RISE Education Cayman Ltd Forecast and Stock Analysis
Technical REDU stock analysis for March 19, 2019.
RISE Education Cayman Ltd fell by -2.60% in the last day from $10.00 to $9.74 and has now fallen 4 days in a row. The price has fallen in 7 of the last 10 days and is down by -9.56% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -30 063 shares and in total 34 885 shares bought and sold for approximately $339 780.00.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the REDU stock was $9.74. This is 2.6% less than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 6.32% from a day low at $9.50 to a day high of $10.10.
30 day high of the REDU stock price was $11.00 and low was $9.37.
90 day high was $11.00 and low was $6.70.
52 week high for the RISE Education Cayman Ltd - $18.18 and low - $6.70.
RISE Education Cayman Ltd has broken the wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $10.24. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. RISE Education Cayman Ltd holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $10.34 and $9.88. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday March 04, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 37 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 $8.49 and $8.26.
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, RISE Education Cayman Ltd finds support just below today's level at $8.49. If this is broken, then the next support from accumulated volume will be at $8.26 and $8.03.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.60 between high and low, or 6.32%. For the last week the stock has had a daily average volatility of 5.94%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
The RISE Education Cayman Ltd stock holds several negative signals and despite the positive trend we believe RISE Education Cayman Ltd 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 Strong Sell Candidate.