Tue 23'rd May 2017
Gulf Resources Stock Analysis
Technical stock analysis for Tue 23'rd May 2017
Sell candidate since 2017-05-23
Gulf Resources lies in the middle of a wide and weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.3% during the next 3 months and, with 90% probability hold a price between USD 1.63 and USD 1.84 at the end of this period.
There are few to none technical positive signals at the moment. A sales signal was issued from a pivot top point on Monday May 22, 2017, which indicates further falls until a new bottom pivot has been found. Gulf Resources 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 37 and the stock is currently not being overbought or oversold
Support & Resistance
Gulf Resources finds support from accumulated volume at USD 1.82, USD 1.81, and USD 1.76. On the upside the stock meets some resistance from accumulated volume at USD 1.99, USD 1.96 and USD 1.91.
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 USD 0.10 (5.59%) between high and low. For the last week, the stock has had a daily average volatility of 6.12%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Gulf Resources holds several negative signals and is within a wide and weak falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.