CHOLESTECH CORPORATION Forecast and Stock Analysis
Technical CTEC.L stock analysis for April 24, 2019.
CHOLESTECH CORPORATION fell by -1.92% in the last day from £135.15 to £132.55 The price has fallen in 5 of the last 10 days and is down by -2.03% 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 -1.34 million shares and in total 7.75 million shares bought and sold for approximately £1 026.69 million.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the CTEC.L stock was £132.55. This is 1.92% less than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 3.53% from a day low at £131.70 to a day high of £136.35.
30 day high of the CTEC.L stock price was £148.05 and low was £131.70.
90 day high was £148.65 and low was £113.25.
52 week high for the CHOLESTECH CORPORATION - £240.50 and low - £113.25.
Trend
Given the current horizontal trend you can expect CHOLESTECH CORPORATION with 90% probability to be traded between £117.82 and £147.40 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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 £135.88 and £137.25. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday April 23, 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 31 and the stock is currently not being overbought or oversold
Support & Resistance
CHOLESTECH CORPORATION finds support from accumulated volume at £128.95.
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 £4.65 (3.53%) between high and low. For the last week, the stock has had a daily average volatility of 2.25%.
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 very 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.
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