Tue 18'th Sep 2018
Caseys General Stores Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||12.00% ( 2018-08-31 )|
|Loans||2 387.7 mill|
Caseys General Stores gained 1.98% in the last trading day, rising from $125.28 to $127.76 The price has risen in 6 of the last 10 days and is up by 10.88% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 146 985 more shares were traded than the day before. In total, 587 451 shares bought and sold for approximately $75.05 million.
Caseys General Stores lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $129.39 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 16.24% during the next 3 months and, with 90% probability hold a price between $135.32 and $150.40 at the end of this period.
Only positive signals in the chart today. Caseys General Stores holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $125.25 and $115.76. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday September 17, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 79 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Caseys General Stores finds support from accumulated volume at $124.78.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.14 between high and low, or 1.69%. For the last week, the stock has had a daily average volatility of 2.09%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $121.14 (-5.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)
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Caseys General Stores holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.Click for Top 5 Strong Buy Candidates
|CASY $127.76 $2.48(1.98%)|
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