The Providence Service Corporation Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
The Providence Service Corporation gained 0.18% in the last trading day, rising from $67.60 to $67.72 The price has risen in 5 of the last 10 days and is up by 0.09% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 24 166 more shares were traded than the day before. In total, 53 764 shares bought and sold for approximately $3.64 million.
The Providence Service Corporation lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $66.15 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 3.76% during the next 3 months and, with 90% probability hold a price between $68.64 and $78.57 at the end of this period.
There are mixed signals in the stock today. The Providence Service Corporation holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $68.26 and $67.83. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday December 11, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 51 and the stock is currently not being overbought or oversold
Support & Resistance
The Providence Service Corporation finds support from accumulated volume at $67.62.
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 $2.52 (3.79%) between high and low. For the last week, the stock has had a daily average volatility of 4.30%.
Our recommended stoploss: $63.59 (-6.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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The Providence Service Corporation 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 Sell Candidate to a Hold/Accumulate.
|PRSC $67.72 $0.12(0.18%)|
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