ODC - Oil-Dri Corporation Of America Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-24
Oil-Dri Corporation Of America Stock Analysis
Oil-Dri Corporation Of America gained 4.12% in the last trading day, rising from USD 33.26 to USD 34.63. The price has fallen in 7 of the last 10 days , but is still up by 0.64% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 4 907 more shares were traded than the day before. In total, 10 948 shares bought and sold for approximately USD 379 129.
Given the current horizontal trend you can expect Oil-Dri Corporation Of America with 90% probability to be traded between USD 32.96 and USD 40.73 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Thursday January 19, 2017, which indicates further gains until a new top pivot has been found. Oil-Dri Corporation Of America has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Oil-Dri Corporation Of America 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 salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 37.39. On a fall, the stock will find some support from the short-term average at USD 33.77. 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.
Relative Strength Index (RSI)
RSI14 is 37 and the stock is currently not being overbought or oversold
Support & Resistance
Oil-Dri Corporation Of America finds support from accumulated volume at USD 33.52, USD 33.49, and USD 33.31. On the upside the stock meets some resistance from accumulated volume at USD 39.23, USD 39.95 and USD 40.13.
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 1.92 between high and low, or 5.82%. For the last week, the stock has had a daily average volatility of 5.49%.
Our recommended stoploss: USD 32.89 (-5.02%) ( criteria: risk and position in trend)
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.