Chase Corp Forecast and Stock Analysis
Technical CCF stock analysis for Friday May 17, 2019.
|Shorts||3.47% ( 2019-04-15 )|
|Price to book||USD 3.66|
|Next Earnings Date||n/a|
Chase Corp fell by -0.84% in the last day ( Friday, 17th May 2019 ) from $100.15 to $99.31 During day the stock fluctuated 1.89% from a day low at $98.79 to a day high of $100.66. The price has been going up and down for this period, and there has been a 1.14% gain for the last 2 weeks. Volume has increased in the last day by 8 215 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 38 891 shares bought and sold for approximately $3.86 million.
- 30 day high of the CCF stock price was $100.96 and low was $89.91.
- 90 day high was $100.96 and low was $80.51.
- 52 week high for the Chase Corp - $131.70 and low - $80.51.
Chase Corp is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $100.18 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Chase Corp with 90% probability to be traded between $84.45 and $101.94 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Chase Corp 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 $98.56 and $94.24. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday May 16, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $92.54 and $89.50.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chase Corp finds support just below today's level at $92.54. If this is broken, then the next support from accumulated volume will be at $89.50 and $84.70.
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 $1.87 (1.89%) between high and low. For the last week, the stock has had a daily average volatility of 1.96%.
Our recommended stoploss: $95.99 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
1.96 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and 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 period.
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