CHMT - Chemtura Corp Tue 21'st Feb 2017
Stock analysis for Tue 21'st Feb 2017 (Updated daily)
Buy candidate since 2017-02-21
Chemtura Corp Stock Analysis
Chemtura Corp gained 0.15% in the last trading day, rising from USD 33.05 to USD 33.10. The price has risen in 6 of the last 10 days days and is up by 0.15% over the past 2 weeks. Volume fell in the last day by -853 096 shares and ,in total, 158 451 shares bought and sold for approximately USD 5.24 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Given the current horizontal trend you can expect Chemtura Corp with 90% probability to be traded between USD 32.96 and USD 33.35 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.
Chemtura Corp holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at USD 33.14 and USD 33.13. A break-up above any of these levels will issue buy signals. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday February 09, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
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 33.05, USD 33.00, and USD 32.95. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 33.15, USD 33.20 and USD 33.25.
The stock is about to test the resistance from accumulated volume at USD 33.15 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 0.10 (0.30%) between high and low. For the last week, the stock has had a daily average volatility of 0.45%.
Our recommended stoploss: USD 32.41 (-2.08%) ( criteria: risk and closeness to support from trendline.)
Several of the signals/indicators are negative, and we believe this will hoave some effect on the development for the next days and possible weeks. However, for the entire period will still think today's level holds possible buying-opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.