ISG - ING Group NV Tue 21'st Feb 2017
Strong Buy Candidate
Stock analysis for Tue 21'st Feb 2017 (Updated daily)
Buy candidate since 2017-02-16
ING Group NV Stock Analysis
ING Group NV gained 0.24% in the last trading day, rising from USD 25.51 to USD 25.57. The price has risen in 5 of the last 10 days days and is up by 1.07% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 14 562 more shares were traded than the day before. In total, 25 781 shares bought and sold for approximately USD 659 220.
Given the current horizontal trend you can expect ING Group NV with 90% probability to be traded between USD 25.54 and USD 26.16 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.
Only positive signals in the chart today. ING Group NV 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 USD 25.46 and USD 25.30. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday December 28, 2016, which indicates further gains until a new top pivot has been found. ING Group NV has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
The stock holds a RSI14 at 79 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
ING Group NV finds support from accumulated volume at USD 25.51, USD 25.37, and USD 25.34. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 25.60.
The stock is about to test the resistance at USD 25.60. If this level is broken the stock may move faster and we often see a peak at the end of such a break, posing a good sales opportunity as in 90% of the cases you will get a reaction back to the level broken before new gains. A break should be followed by increasing volume else the break may be false and despite a break of the actual resistance level the stock falls back fairly soon.
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 0.15 (0.59%) between high and low. For the last week, the stock has had a daily average volatility of 0.53%.
Our recommended stoploss: USD 24.82 (-2.93%) ( criteria: risk and closeness to support from trendline.)
ING Group NV holds several positive signals and is considered to be a good choice at current levels. We expect the stock to perform very well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.