Wed 17'th Oct 2018
Turtle Beach Corporation Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
|Shorts||3.85% ( 2018-09-28 )|
Turtle Beach Corporation gained 7.97% in the last trading day, rising from $20.84 to $22.50 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has been going up and down for this period, and there has been a 21.56% gain for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.61 million more shares were traded than the day before. In total, 2.49 million shares bought and sold for approximately $56.00 million.
Turtle Beach Corporation has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $22.50, a level that may pose a second chance to hit a runner. According to fan-theory $31.22 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. Turtle Beach Corporation holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $19.46 and $20.49. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday October 15, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 60 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $20.61 and $19.23.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Turtle Beach Corporation finds support just below today's level at $20.61. If this is broken, then the next support from accumulated volume will be at $19.23 and $18.01.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.48 between high and low, or 12.39%. For the last week, the stock has had a daily average volatility of 13.31%.
Our recommended stoploss: $21.48 (-4.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.Click for Top 5 Buy Candidates
|HEAR $22.50 $1.66(7.97%)|
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