Centrais Elétricas Brasileiras S.A. - Eletrobras Stock Analysis
Technical stock analysis for 23 January 2019
|Shorts||0.83% ( 2018-12-31 )|
Centrais Elétricas Brasileiras S.A. - Eletrobras gained 4.48% in the last trading day, rising from $8.48 to $8.86 The price has risen in 6 of the last 10 days and is up by 7.39% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 22 374 more shares were traded than the day before. In total, 597 122 shares bought and sold for approximately $5.29 million.
Close price at the end of the last trading day (Wednesday, 23rd Jan 2019) of the EBR stock was $8.86. This is 4.48% more than the trading day before Tuesday, 22nd Jan 2019.
During day the stock fluctuated 3.13% from a day low at $8.63 to a day high of $8.90.
30 day high of the EBR stock price was $8.90 and low was $5.56.
90 day high was $8.90 and low was $5.56.
52 week high for the Centrais Elétricas Brasileiras S.A. - Eletrobras - $8.90 and low - $3.14.
Centrais Elétricas Brasileiras S.A. - Eletrobras has broken the very wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $8.71, a level that may pose a second chance to hit a runner. According to fan-theory $11.06 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Only positive signals in the chart today. Centrais Elétricas Brasileiras S.A. - Eletrobras holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $8.42 and $7.09. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 07, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 69 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $8.27 and $8.25.
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, Centrais Elétricas Brasileiras S.A. - Eletrobras finds support just below today's level at $8.27. If this is broken, then the next support from accumulated volume will be at $8.25 and $8.22.
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 $0.27 between high and low, or 3.13%. For the last week, the stock has had a daily average volatility of 3.16%.
Our recommended stoploss: $8.39 (-5.30%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 11 days ago.)
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Centrais Elétricas Brasileiras S.A. - Eletrobras holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
|EBR $8.86 $0.38(4.48%)|
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