Tue 23'rd May 2017
Eco-Stim Energy Solutions Stock Analysis
Technical stock analysis for Tue 23'rd May 2017
Buy candidate since 2017-05-22 Gain 2.44%
Eco-Stim Energy Solutions lies in the middle of a wide and strong 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 21.5% during the next 3 months and, with 90% probability hold a price between USD 1.34 and USD 1.69 at the end of this period.
Only positive signals in the chart today. Eco-Stim Energy Solutions 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 USD 1.25 and USD 1.20. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday May 19, 2017, which indicates further gains until a new top pivot has been found. Eco-Stim Energy Solutions has rising volume and follows the last lift in the price. This considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 34 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 USD 1.16 and USD 1.08. On the upside the stock meets some resistance from accumulated volume at USD 1.40, USD 1.42 and USD 1.29.
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, Eco-Stim Energy Solutions finds support just below today's level at 1.16. If this is broken, then the next support from accumulated volume will be at 1.08 and 1.06.
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 USD 0.07 between high and low, or 5.83%. For the last week, the stock has had a daily average volatility of 8.37%.
Our recommended stoploss: USD 1.18 (-6.28%) (This stock has high daily movements and this gives high risk. There is a buy signal from pivot bottom found 2 days ago.)
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.