CASY - Caseys General Stores

Industry: Grocery Stores Sector: Services

Buy Candidate
Fri 21'st Apr 2017

VOLUME
Buy
TREND
Sell
MV LONG
Buy
MV SHORT
Buy
PIVOT
Buy
MACD
Sell
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Caseys General Stores Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Buy candidate since 2017-04-20 Gain 0.14%

Caseys General Stores gained 0.14% in the last trading day, rising from USD 112.30 to USD 112.46 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 0.36% 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, 7 224 more shares were traded than the day before. In total, 336 419 shares bought and sold for approximately USD 37.83 million.

Trend

Caseys General Stores lies in the middle of a weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.9% during the next 3 months and, with 90% probability hold a price between USD 99.92 and USD 109.97 at the end of this period.

Signals

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 USD 112.25 and USD 111.20. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday April 13, 2017, 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)

RSI14 is 51 and the stock is currently not being overbought or oversold

Support & Resistance

Caseys General Stores finds support from accumulated volume at USD 111.87, USD 109.78, and USD 108.66. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 114.58, USD 112.60 and USD 113.49.

The stock is about to test the resistance from accumulated volume at USD 114.58 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 1.41 (1.26%) between high and low. For the last week, the stock has had a daily average volatility of 1.66%.

Our recommended stoploss: USD 105.77 (-5.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)

Evaluation

Several short-term signals are positive, despite the stock being in a weak falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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