Fri 23'rd Feb 2018
Emerald Health Therapeutics Stock Analysis
Technical stock analysis for Fri 23'rd Feb 2018
Emerald Health Therapeutics has broken the very wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $4.60. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. Emerald Health Therapeutics 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 $4.61 and $5.48. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday February 20, 2018, which indicates further falls until a new bottom pivot has been found. Emerald Health Therapeutics gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
Relative Strength Index (RSI)
RSI14 is 44 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 $4.03 and $3.91. On the upside the stock meets some resistance just above today's level from accumulated volume at $4.55, $4.80 and $5.26.
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, Emerald Health Therapeutics finds support just below today's level at $4.03. If this is broken, then the next support from accumulated volume will be at $3.91 and $3.71. The stock is about to test the resistance from accumulated volume at $4.55 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $0.24 between high and low, or 5.49%. For the last week, the stock has had a daily average volatility of 9.52%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Emerald Health Therapeutics stock holds several negative signals and despite the positive trend we believe Emerald Health Therapeutics will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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