Fri 19'th Jan 2018
Oil-Dri Corporation Of America Stock Analysis
Technical stock analysis for Fri 19'th Jan 2018
|Shorts||4.39% ( 2017-12-29 )|
Oil-Dri Corporation Of America lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.81% during the next 3 months and, with 90% probability hold a price between $37.58 and $43.42 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday January 18, 2018, 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. 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 sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $42.63. On a fall, the stock will find some support from the short-term average at $41.50. 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 53 and the stock is currently not being overbought or oversold
Support & Resistance
Oil-Dri Corporation Of America finds support from accumulated volume at $42.01. On the upside the stock meets some resistance just above today's level from accumulated volume at $42.76, $43.42 and $44.87.
The stock is about to test the resistance from accumulated volume at $42.76 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $40.59 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Oil-Dri Corporation Of America holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Hold/Accumulate.
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