Wed 20'th Sep 2017
Gulf Resources Stock Analysis
Technical stock analysis for Wed 20'th Sep 2017
Sell candidate since 2017-09-15 Loss -2.19%
Gulf Resources 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 13.72% during the next 3 months and, with 90% probability hold a price between $1.90 and $2.31 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday September 18, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Gulf Resources 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 $1.79 and $1.80. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 46 and the stock is currently not being overbought or oversold
Support & Resistance
Gulf Resources finds support from accumulated volume at $1.78. On the upside the stock meets some resistance just above today's level from accumulated volume at $1.80, $1.83 and $1.85.
The stock is about to test the resistance from accumulated volume at $1.80 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.03 between high and low, or 1.69%. For the last week the stock has had a daily average volatility of 2.48%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
The stock stock holds several negative signals and despite the positive trend we believe Gulf Resources will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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