CHMT - Chemtura Corp Fri 24'th Mar 2017
Chemtura Corp Stock Analysis
Stock analysis for Fri 24'th Mar 2017 (Updated daily) Sell candidate since 2017-03-23
No changes to the price of Chemtura Corp in the last trading day. The price has fallen in 4 of the last 10 days and is down by -0.15% for this period.
Given the current horizontal trend you can expect Chemtura Corp with 90% probability to be traded between USD 33.17 and USD 33.47 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.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday February 16, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention for the next couple of days. Chemtura Corp holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 33.26. On a fall, the stock will find some support from the long-term average at approximately USD 33.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
Chemtura Corp finds support from accumulated volume at USD 33.15, USD 33.10, and USD 33.05. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 33.25 and USD 33.30.
The stock is about to test the resistance from accumulated volume at USD 33.25 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 0.05 (0.15%) between high and low. For the last week, the stock has had a daily average volatility of 0.31%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Chemtura Corp holds several negative signals and we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.