CHOLESTECH CORPORATION Forecast and Stock Analysis
Technical CTEC.L stock analysis for February 15, 2019.
CHOLESTECH CORPORATION fell by -1.37% in the last day from £120.20 to £118.55 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -16.72% 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 -6.33 million shares and in total 20.25 million shares bought and sold for approximately £2 401.11 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the CTEC.L stock was £118.55. This is 1.37% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 4.94% from a day low at £115.30 to a day high of £121.00.
30 day high of the CTEC.L stock price was £148.65 and low was £113.25.
90 day high was £166.45 and low was £113.25.
52 week high for the CHOLESTECH CORPORATION - £240.50 and low - £113.25.
Trend
CHOLESTECH CORPORATION has broken the wide and 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 (£121.45) are considered to be a "second chance" to get out. According to the fan-theory £95.31 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Signals
There are few to none technical positive signals at the moment. CHOLESTECH CORPORATION 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 £137.47 and £139.74. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday February 13, 2019, 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 30 and the stock is currently not being overbought or oversold
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.
Risk
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £5.70 between high and low, or 4.94%. For the last week, the stock has had a daily average volatility of 5.00%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Overall risk:
Very Low Low Medium High Very High
Evaluation: Sell Candidate
CHOLESTECH CORPORATION holds several negative signals and is within a wide 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.
