RiverNorth/DoubleLine Strategic Opportunity Fund Inc Forecast and Stock Analysis
Technical OPP stock analysis for February 15, 2019.
|Shorts||0.23% ( 2019-01-31 )|
RiverNorth/DoubleLine Strategic Opportunity Fund Inc fell by -1.37% in the last day from $16.73 to $16.50 The price has fallen in 6 of the last 10 days and is down by -2.83% for this period. Volume has increased in the last day by 30 140 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 50 918 shares bought and sold for approximately $840 147.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the OPP stock was $16.50. This is 1.37% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.67% from a day low at $16.45 to a day high of $16.89.
30 day high of the OPP stock price was $17.10 and low was $16.42.
90 day high was $17.10 and low was $14.30.
52 week high for the RiverNorth/DoubleLine Strategic Opportunity Fund Inc - $18.25 and low - $14.30.
RiverNorth/DoubleLine Strategic Opportunity Fund Inc lies in the middle of a weak 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 7.88% during the next 3 months and, with 90% probability hold a price between $17.11 and $18.78 at the end of this period.
There are few to none technical positive signals at the moment. RiverNorth/DoubleLine Strategic Opportunity Fund Inc holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $16.73 and $16.63. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday February 01, 2019, which indicates further falls until a new bottom pivot has been found. RiverNorth/DoubleLine Strategic Opportunity Fund Inc gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
Relative Strength Index (RSI)
RSI14 is 45 and the stock is currently not being overbought or oversold
Support & Resistance
RiverNorth/DoubleLine Strategic Opportunity Fund Inc finds support from accumulated volume at $16.25.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.44 (2.67%) between high and low. For the last week, the stock has had a daily average volatility of 1.57%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The RiverNorth/DoubleLine Strategic Opportunity Fund Inc stock holds several negative signals and despite the positive trend we believe RiverNorth/DoubleLine Strategic Opportunity Fund Inc will perform weak in the next couple of days or weeks. Therefore, we 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 Buy Candidate to a Sell Candidate.