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RCON - Recon Technology

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

Fri 15'th Jun 2018

PERIOD 2018-03-16 - 2018-06-15
CHANGE 3.88%
PRICE $1.34
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

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Recon Technology Stock Analysis

Technical stock analysis for Fri 15'th Jun 2018

Buy candidate since 2018-06-15

Recon Technology gained 3.88% in the last trading day, rising from $1.29 to $1.34 The price has been going up and down for this period, and there has been a 3.08% gain for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 25 979 more shares were traded than the day before. In total, 183 953 shares bought and sold for approximately $0.00.

Shorts 4.88% ( 2018-05-31 )
Cash n/a
Loans n/a
Beta 2.18
ROA -40.76

Trend

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 3.98% during the next 3 months and, with 90% probability hold a price between $1.23 and $1.56 at the end of this period.

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Signals

Only positive signals in the chart today. Recon Technology holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $1.32 and $1.32. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday June 14, 2018, which indicates further gains until a new top pivot has been found. Recon Technology has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

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A buy signal from a double bottom formation was found on Tuesday June 05, 2018 with a target of $1.34. Despite the objective of the signal formation has been reached the stock may continue to perform well.

Relative Strength Index (RSI)

RSI14 is 55 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Recon Technology finds support from accumulated volume at $1.32.

Support: $1.32 Price: $1.34 Resistance: $1.35

Risk

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 $0.11 (8.52%) between high and low. For the last week, the stock has had a daily average volatility of 15.06%.

Our recommended stoploss: $1.28 (-4.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

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.

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