CXW Forecast and Technical Stock Analysis
Hold candidate since 2019-09-17 Loss -0.34% PDF
Corrections Corporation of America fell by -0.34% in the last day ( Wednesday, 18th Sep 2019 ) from $17.56 to $17.50 and has now fallen 3 days in a row. During the day the stock fluctuated 2.19% from a day low at $17.32 to a day high of $17.70. The price has fallen in 5 of the last 10 days , but is still up by 0.63% over the past 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 -328 106 shares and in total 444 763 shares bought and sold for approximately $7.78 million.
- 30 day high of the CXW stock price was $18.53 and low was $16.60.
- 90 day high was $24.05 and low was $15.57.
- 52 week high for Corrections Corporation of America - $25.81 and low - $15.57.
Corrections Corporation of America lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $18.03 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.84% during the next 3 months and, with 90% probability hold a price between $11.04 and $14.82 at the end of this period.
Corrections Corporation of America 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 $17.86. On a fall, the stock will find some support from the long-term average at approximately $17.38. 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 Wednesday September 11, 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.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line 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)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 59 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Corrections Corporation of America finds support from accumulated volume at $17.47.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.38 (2.19%) between high and low. For the last week, the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: $16.55 (-5.43%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 5 day(s) ago.)
3.03 %Average volatility
Very Low Low Medium High Very High
Corrections Corporation of America holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level, we recommend to hold or accumulate in this position whilst awaiting further development.
|CXW $17.50 ($-0.06 -0.34%)|
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Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!