CNCO - Cencosud SA Fri 24'th Feb 2017
Stock analysis for Fri 24'th Feb 2017 (Updated daily)
Sell candidate since 2017-02-23
Cencosud SA Stock Analysis
Cencosud SA fell by -1.33% in the last day, from USD 9.02 to USD 8.90. , and has now fallen 4 day in a row The price has been going up and down for this period, and there has been a 2.42% gain for the last 2 weeks. 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 -13 689 shares and in total, 18 720 shares bought and sold for approx. USD 166 608.
Cencosud SA lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.9% during the next 3 months and, with 90% probability hold a price between USD 8.91 and USD 10.01 at the end of this period.
Cencosud SA 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 9.18. On a fall, the stock will find some support from the long-term average at approximately USD 8.81. 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. 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 Tuesday February 21, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
* 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 51 and the stock is currently not being overbought or oversold
Support & Resistance
Cencosud SA finds support from accumulated volume at USD 8.68, USD 8.46, and USD 8.32. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 9.14, USD 8.97 and USD 9.18.
The stock is about to test the resistance from accumulated volume at USD 9.14 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Cencosud SA 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.