Sell Candidate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
-1.08%
PRICE
$1.84
VOLUME
Buy
TREND
Sell
MV LONG
Hold
MV SHORT
Hold
PIVOT
Sell
MACD
Sell
Request Prediction
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Gulf Resources Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Sell candidate since 2017-05-23

Gulf Resources fell by -1.08% in the last day, from USD 1.86 to USD 1.84 The price has fallen in 5 of the last 10 days and is down by -5.64% for this period. Volume has increased in the last day by 81 896 shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 156 246 shares bought and sold for approximately USD 287 493.

Trend

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.

Signals

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.

Risk

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.

Evaluation

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.

Sell Candidate

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