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RCON - Recon Technology

Industry: Oil & Gas Equipment & Services Sector: Basic Materials Exchange: NASDAQ

Fri 23'rd Feb 2018

PERIOD 2017-11-24 - 2018-02-23
CHANGE -2.80%
PRICE $1.39





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Recon Technology Stock Analysis

Technical stock analysis for Fri 23'rd Feb 2018

Shorts 0.08% ( 2018-01-31 )
Cash 2.8 mill
Loans n/a
Beta 2.05
ROA -43.04
Sell candidate since 2018-02-23

Recon Technology fell by -2.80% in the last day from $1.43 to $1.39 The price has risen in 7 of the last 10 days and is up by 14.88% over the past 2 weeks. Volume has increased in the last day by 0.41 million 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, 1.39 million shares bought and sold for approximately $1.93 million.

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Recon Technology lies in the middle of a very wide and 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 9.55% during the next 3 months and, with 90% probability hold a price between $0.86 and $3.45 at the end of this period.

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There are few to none technical positive signals at the moment. Recon Technology 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 $1.62. On a fall, the stock will find some support from the short-term average at $1.35. 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. A sales signal was issued from a pivot top point on Thursday February 22, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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Relative Strength Index (RSI)

RSI14 is 44 and the stock is currently not being overbought or oversold

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Support & Resistance

Recon Technology finds support from accumulated volume at $1.34. On the upside the stock meets some resistance from accumulated volume at $1.52, $1.68 and $1.73.

Support: $1.34 Price: $1.39 Resistance: $1.52


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 $0.22 between high and low, or 16.54%. For the last week, the stock has had a daily average volatility of 9.18%.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High


The Recon Technology stock holds several negative signals and despite the positive trend we believe Recon Technology 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 Hold/Accumulate to a Sell Candidate.

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