Wed 17'th Oct 2018
LKQ Corporation Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
|Shorts||3.44% ( 2018-09-28 )|
|Loans||3 148.6 mill|
LKQ Corporation fell by -2.75% in the last day from $29.42 to $28.61 The price has fallen in 6 of the last 10 days and is down by -7.74% for this period. Volume has increased in the last day by 0.94 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 3.69 million shares bought and sold for approximately $105.48 million.
LKQ Corporation lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $28.03 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.64% during the next 3 months and, with 90% probability hold a price between $24.49 and $28.14 at the end of this period.
There are few to none technical positive signals at the moment. LKQ Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $28.82 and $31.75. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday October 16, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 22 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
LKQ Corporation finds support from accumulated volume at $28.59.
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 $1.03 between high and low, or 3.61%. For the last week, the stock has had a daily average volatility of 3.02%.
LKQ Corporation is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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LKQ Corporation holds several negative signals and is within a wide and 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 Sell Candidate to a Strong Sell Candidate.Click for Top 5 Strong Sell Candidates
|LKQ $28.61 $-0.81(-2.75%)|
LKQ is down $0.81 today, but where's it headed in November?
|Zacks Investment Research is releasing its prediction for LKQ based on the 1-3 month system that more than doubles the S&P 500.
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