GLOB Forecast and Technical Stock AnalysisHold candidate since 2019-07-18
Globant SA fell by -0.56% in the last day ( Thursday, 18th Jul 2019 ) from $106.67 to $106.07 and has now fallen 7 days in a row. During day the stock fluctuated 2.21% from a day low at $104.69 to a day high of $107.00. The price has fallen in 7 of the last 10 days , but is still up by 1.73% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -55 425 shares and in total 219 391 shares bought and sold for approximately $23.27 million.
- 30 day high of the GLOB stock price was $109.78 and low was $97.98.
- 90 day high was $109.78 and low was $75.00.
- 52 week high for the Globant SA - $109.78 and low - $46.30.
Globant SA 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 37.29% during the next 3 months and, with 90% probability hold a price between $141.40 and $156.73 at the end of this period.
Globant SA holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $107.52. On a fall, the stock will find some support from the long-term average at approximately $100.62. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. 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 Wednesday July 10, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
Globant SA finds support from accumulated volume at $105.01.
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 $2.31 (2.21%) between high and low. For the last week, the stock has had a daily average volatility of 3.11%.
Our recommended stoploss: $101.25 (-4.55%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from pivot top found 6 days ago.)
3.11 %Average volatility
Very Low Low Medium High Very High
Globant SA holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
|GLOB $106.07 ($-0.60 -0.56%)|
GLOB is down $0.60 today, but where's it headed in 2019?
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