Turtle Beach Corporation Forecast and Stock Analysis
Technical HEAR stock analysis for February 15, 2019.
Turtle Beach Corporation fell by -1.68% in the last day from $17.81 to $17.51 The price has been going up and down for this period, and there has been a 15.05% gain for the last 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 -1.77 million shares and in total 1.53 million shares bought and sold for approximately $26.88 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the HEAR stock was $17.51. This is 1.68% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 6.65% from a day low at $17.30 to a day high of $18.45.
30 day high of the HEAR stock price was $19.00 and low was $14.07.
90 day high was $19.00 and low was $12.36.
52 week high for the Turtle Beach Corporation - $34.50 and low - $0.44.
Turtle Beach Corporation is the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $17.96 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Turtle Beach Corporation with 90% probability to be traded between $13.50 and $18.13 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Turtle Beach Corporation holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $16.70 and $15.63. A break down below any of these levels will issue sell signals. 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 Thursday February 14, 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)
The stock holds a RSI14 at 73 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.
Support & Resistance
Turtle Beach Corporation finds support from accumulated volume at $17.00.
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 $1.15 between high and low, or 6.65%. For the last week, the stock has had a daily average volatility of 7.61%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $16.65 (-4.90%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 73 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.