Tue 18'th Sep 2018
Genesco Inc Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||8.28% ( 2018-08-31 )|
Genesco Inc fell by -0.42% in the last day from $47.85 to $47.65 The price has fallen in 6 of the last 10 days and is down by -2.95% for this period. Volume has increased in the last day by 63 248 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, 445 678 shares bought and sold for approximately $21.24 million.
Genesco Inc 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 20.26% during the next 3 months and, with 90% probability hold a price between $53.72 and $63.01 at the end of this period.
Genesco Inc 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 $47.21 and $44.98. A break down below any of these levels will issue sell signals. 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 Monday September 17, 2018, 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.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Genesco Inc finds support from accumulated volume at $47.60.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.90 (3.99%) between high and low. For the last week, the stock has had a daily average volatility of 4.13%.
Our recommended stoploss: $46.03 (-3.41%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
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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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.Click for Top 5 Buy Candidates
|GCO $47.65 $-0.20(-0.42%)|
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