Tue 14'th Aug 2018
Ceragon Networks Ltd. Stock Analysis
Technical stock analysis for Tue 14'th Aug 2018
|Shorts||1.31% ( 2018-07-31 )|
Ceragon Networks Ltd. gained 1.50% in the last trading day, rising from $3.33 to $3.38 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has fallen in 6 of the last 10 days and is down by -15.71% for this period. Volume fell in the last day by -9 488 shares, and in total, 341 556 shares bought and sold for approximately $1.15 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.
Ceragon Networks Ltd. lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $3.30 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.36% during the next 3 months and, with 90% probability hold a price between $3.74 and $4.94 at the end of this period.
A buy signal was issued from a pivot bottom point on Friday August 10, 2018, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Ceragon Networks Ltd. 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 $3.42 and $3.68. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 26 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Ceragon Networks Ltd. finds support from accumulated volume at $3.27.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.14 between high and low, or 4.32%. For the last week the stock has had a daily average volatility of 4.79%.
Ceragon Networks Ltd. is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Ceragon Networks Ltd. stock holds several negative signals and despite the positive trend we believe Ceragon Networks Ltd. will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
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