Netshoes (Cayman) Ltd Forecast and Stock Analysis
Technical NETS stock analysis for March 20, 2019.
|Shorts||0.94% ( 2019-02-28 )|
Netshoes (Cayman) Ltd gained 0.63% in the last trading day, rising from $1.58 to $1.59 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has fallen in 8 of the last 10 days and is down by -30.26% for this period. Volume fell in the last day by -124 199 shares, and in total, 134 424 shares bought and sold for approximately $213 734.00. 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 (Wednesday, 20th Mar 2019) of the NETS stock was $1.59. This is 0.63% more than the trading day before Tuesday, 19th Mar 2019.
During day the stock fluctuated 8.33% from a day low at $1.50 to a day high of $1.63.
30 day high of the NETS stock price was $2.50 and low was $1.43.
90 day high was $2.90 and low was $0.95.
52 week high for the Netshoes (Cayman) Ltd - $7.57 and low - $0.95.
Netshoes (Cayman) Ltd lies in the lower part of a very 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 $1.47 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 18.42% during the next 3 months and, with 90% probability hold a price between $1.74 and $3.58 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday March 18, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Netshoes (Cayman) Ltd holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $2.26. On a fall, the stock will find some support from the short-term average at $1.57. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
RSI14 is 14 and the stock is extremely oversold on RSI14 and is now having a minor correction up. Further gains in the short-term can be expected, and some stocks will provide a very good short-term return from this kind of RSI position unless there is a fundamental risk for bankruptcy or other issues that may affect the stock negatively.
Support & Resistance
Netshoes (Cayman) Ltd finds support from accumulated volume at $1.58.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.13 between high and low, or 8.33%. For the last week the stock has had a daily average volatility of 8.56%.
Netshoes (Cayman) Ltd is overbought on RSI14 (14). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Netshoes (Cayman) Ltd holds several negative signals and we believe that 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.