OLN - Olin Corporation Mon 27'th Feb 2017
Stock analysis for Mon 27'th Feb 2017 (Updated daily)
Buy candidate since 2017-02-27
Olin Corporation Stock Analysis
Olin Corporation gained 0.32% in the last trading day, rising from USD 30.80 to USD 30.90. The price has risen in 6 of the last 10 days days and is up by 3.66% over the past 2 weeks. Volume fell in the last day by -0.92 million shares and ,in total, 1.70 million shares bought and sold for approximately USD 52.47 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Olin Corporation lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.5% during the next 3 months and, with 90% probability hold a price between USD 33.98 and USD 39.93 at the end of this period.
Only positive signals in the chart today. Olin Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 31.27. On a fall, the stock will find some support from the long-term average at approximately USD 28.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Friday February 24, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 55 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 USD 29.33 and USD 26.21. On the upside the stock meets some resistance from accumulated volume at USD 32.49, USD 31.38 and USD 31.90.
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, Olin Corporation finds support just below today's level at 29.33. If this is broken, then the next support from accumulated volume will be at 26.21 and 25.36.
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 0.57 between high and low, or 1.86%. For the last week, the stock has had a daily average volatility of 3.22%.
Our recommended stoploss: USD 29.68 (-3.95%) ( criteria: risk and position in trend)
Several short-term signals, along with a general good trend, 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 Hold/Accumulate to a Buy Candidate.