Sell Candidate
Fri 26'th May 2017

PERIOD COVERED
2017-02-27 - 2017-05-26
CHANGE
-0.31%
PRICE
$16.00
VOLUME
Sell
TREND
Hold
MV LONG
Sell
MV SHORT
Sell
PIVOT
Sell
MACD
Sell
Request Prediction
0.00%
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Meritor Inc Stock Analysis

Technical stock analysis for Fri 26'th May 2017

Sell candidate since 2017-05-26

Meritor Inc fell by -0.31% in the last day, from USD 16.05 to USD 16.00 The price has been going up and down for this period, and there has been a -2.97% loss 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 -383 333 shares and in total, 742 665 shares bought and sold for approximately USD 11.88 million.

Trend

Meritor Inc has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately USD 16.13 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.

Signals

There are few to none technical positive signals at the moment. Meritor Inc 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 USD 16.04 and USD 16.79. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday April 26, 2017, 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)

RSI14 is 33 and the stock is currently not being overbought or oversold

Support & Resistance

Meritor Inc finds support from accumulated volume at USD 15.91. On the upside the stock meets some resistance from accumulated volume at USD 16.80, USD 17.17 and USD 16.44.

Risk

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 USD 0.28 between high and low, or 1.77%. For the last week, the stock has had a daily average volatility of 2.73%.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Evaluation

Meritor Inc 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 Hold/Accumulate to a Sell Candidate.

Sell Candidate

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