CRH - CRH PLC

Industry: Cement Sector: Industrial Goods | Exchange: NYSE

Buy Candidate
Thu 21'st Sep 2017

PERIOD 2017-06-22 - 2017-09-21
CHANGE 2.50%
PRICE $36.84
VOLUME
Sell
TREND
Hold

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

BOLLINGER
Buy
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CRH PLC Stock Analysis

Technical stock analysis for Thu 21'st Sep 2017

Buy candidate since 2017-09-20 Gain 2.50%

CRH PLC gained 2.50% in the last trading day, rising from $35.94 to $36.84 The price has risen in 6 of the last 10 days and is up by 5.14% over the past 2 weeks. Volume fell in the last day by -26 926 shares, and in total, 442 856 shares bought and sold for approximately $16.31 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

CRH PLC has broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $35.69, a level that may pose a second chance to hit a runner. According to fan-theory $37.74 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.

Signals

Only positive signals in the chart today. CRH PLC holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $35.82 and $34.99. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday September 06, 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.

The stock had a Golden Star Signal* on Friday September 08, 2017 in the short-term chart.

* 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)

The stock holds a RSI14 at 74 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

Support & Resistance

CRH PLC finds support from accumulated volume at $35.47. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

Support: $35.47 Price: $36.84
S: $35.47 Price: $36.84

Risk

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 $0.41 (1.12%) between high and low. For the last week, the stock has had a daily average volatility of 1.09%.

The stock is extremely overbought on RSI14 (74). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stoploss: $35.32 (-4.13%) (This stock has low daily movements and this gives low risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from pivot bottom found 11 days ago.)

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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