51job Forecast and Stock Analysis
Technical JOBS stock analysis for March 19, 2019.
51job gained 1.54% in the last trading day, rising from $73.42 to $74.55 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 6 of the last 10 days and is up by 6.42% over the past 2 weeks. Volume fell in the last day by -1 968 shares, and in total, 302 954 shares bought and sold for approximately $22.59 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the JOBS stock was $74.55. This is 1.54% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 2.92% from a day low at $72.56 to a day high of $74.67.
30 day high of the JOBS stock price was $75.84 and low was $64.32.
90 day high was $75.84 and low was $57.06.
52 week high for the 51job - $114.62 and low - $52.15.
51job 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 16.41% during the next 3 months and, with 90% probability hold a price between $78.44 and $91.96 at the end of this period.
Only positive signals in the chart today. 51job 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 $70.99 and $70.27. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday March 12, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 53 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 $70.58 and $65.04.
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, 51job finds support just below today's level at $70.58. If this is broken, then the next support from accumulated volume will be at $65.04 and $64.69.
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 $2.12 (2.92%) between high and low. For the last week, the stock has had a daily average volatility of 3.02%.
Since the 51job has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $71.69 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Strong Buy Candidate
51job holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.