Tue 18'th Sep 2018
City Office REIT Inc Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||1.66% ( 2018-08-31 )|
City Office REIT Inc fell by -1.60% in the last day from $12.47 to $12.27 and has now fallen 4 days in a row. The price has fallen in 6 of the last 10 days and is down by -3.69% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -80 862 shares and in total 152 960 shares bought and sold for approximately $1.88 million.
City Office REIT Inc has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $12.48 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
There are few to none technical positive signals at the moment. City Office REIT Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $12.52 and $12.78. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday August 29, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 13 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of 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 $0.21 (1.71%) between high and low. For the last week, the stock has had a daily average volatility of 1.41%.
City Office REIT Inc is overbought on RSI14 (13). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
City Office REIT Inc holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
|CIO $12.27 $-0.20(-1.60%)|
CIO is down $0.20 today, but where's it headed in October?
|Zacks Investment Research is releasing its prediction for CIO based on the 1-3 month system that more than doubles the S&P 500.
Click here – the CIO analysis is free »