Previous Hold Today CXW ranks #3072 as HOLD CANDIDATE #3072 Next Hold

CXW stock forecast Corrections Corporation of America

CXW stock forecast

Friday January 17, 2020 Change -2.41% Price $16.20
Your prediction: Prediction: Request
VOLUME
Buy
TREND
Buy
MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Sell

CXW Forecast and Technical Stock Analysis


Hold candidate since 2020-01-17 PDF

Corrections Corporation of America fell by -2.41% in the last day ( Friday, 17th Jan 2020 ) from $16.60 to $16.20 During the day the stock fluctuated 3.83% from a day low at $16.17 to a day high of $16.79. The price has been going up and down for this period, and there has been a 0.5% gain for the last 2 weeks. Volume has increased in the last day by 173 489 shares but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 965 308 shares bought and sold for approximately $15.64 million.

Quick summary:

  • 30 day high of the CXW stock price was $17.84 and low was $15.29.
  • 90 day high was $17.84 and low was $14.68.
  • 52 week high for Corrections Corporation of America - $24.38 and low - $14.68.
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Trend

Corrections Corporation of America lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.67% during the next 3 months and, with 90% probability hold a price between $16.41 and $19.13 at the end of this period.

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Signals

There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday January 16, 2020, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Corrections Corporation of America holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $16.07 and $16.15. A break down below any of these levels will issue sell signals.

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Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 31 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

On the downside, the stock finds support just below today's level from accumulated volume at $15.26 and $15.10.

There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Corrections Corporation of America finds support just below today's level at $15.26. If this is broken, then the next support from accumulated volume will be at $15.10 and $15.09.

Support: $15.26 Price: $16.20 Resistance: $16.72

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 $0.62 between high and low, or 3.83%. For the last week, the stock has had a daily average volatility of 2.91%.

Our recommended stop-loss: $15.42 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 day(s) ago.)

2.91 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Hold/Accumulate Downgraded

Evaluation

Corrections Corporation of America holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate candidate.

Previous Hold Today CXW ranks #3072 as HOLD CANDIDATE #3072 Next Hold
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