Model N Inc Forecast and Stock Analysis
Technical MODN stock analysis for March 15, 2019.
|Shorts||3.63% ( 2019-02-28 )|
Model N Inc gained 0.84% in the last trading day, rising from $16.76 to $16.90 The price has fallen in 6 of the last 10 days and is down by -2.82% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 152 709 more shares were traded than the day before. In total, 266 410 shares bought and sold for approximately $4.50 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the MODN stock was $16.90. This is 0.84% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 1.44% from a day low at $16.68 to a day high of $16.92.
30 day high of the MODN stock price was $17.44 and low was $16.13.
90 day high was $17.44 and low was $12.98.
52 week high for the Model N Inc - $20.33 and low - $12.60.
Model N Inc lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $16.74 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.78% during the next 3 months and, with 90% probability hold a price between $22.39 and $25.12 at the end of this period.
Only positive signals in the chart today. Model N Inc 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 $16.88 and $16.44. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 14, 2019, 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 37 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 $13.57 and $13.23.
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, Model N Inc finds support just below today's level at $13.57. If this is broken, then the next support from accumulated volume will be at $13.23 and $13.10.
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 $0.24 (1.44%) between high and low. For the last week, the stock has had a daily average volatility of 1.77%.
Our recommended stoploss: $15.87 (-6.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Strong Buy Candidate
Model N Inc 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.