CME Group Inc. Forecast and Stock Analysis
Technical CME stock analysis for March 22, 2019.
CME Group Inc. fell by -0.61% in the last day from $164.33 to $163.32 and has now fallen 6 days in a row. The price has fallen in 9 of the last 10 days and is down by -4.79% for this period. Volume has increased in the last day by 1.06 million 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, 2.89 million shares bought and sold for approximately $472.80 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the CME stock was $163.32. This is 0.61% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 1.88% from a day low at $161.40 to a day high of $164.44.
30 day high of the CME stock price was $183.97 and low was $161.40.
90 day high was $188.45 and low was $161.40.
52 week high for the CME Group Inc. - $197.08 and low - $153.90.
CME Group Inc. has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($165.14) are considered to be a "second chance" to get out. According to the fan-theory $151.71 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
There are few to none technical positive signals at the moment. CME Group 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 $167.09 and $175.03. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday March 01, 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 8 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 $3.04 (1.88%) between high and low. For the last week, the stock has had a daily average volatility of 1.73%.
CME Group Inc. is overbought on RSI14 (8). 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.
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Evaluation: Sell Candidate
CME Group Inc. holds several negative signals and is within a 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.