Reeds Forecast and Stock Analysis
Technical REED stock analysis for March 19, 2019.
|Shorts||1.55% ( 2019-02-28 )|
Reeds fell by -0.67% in the last day from $2.97 to $2.95 The price has fallen in 6 of the last 10 days , but is still up by 8.06% over the past 2 weeks. 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 -181 505 shares and in total 152 648 shares bought and sold for approximately $450 312.00.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the REED stock was $2.95. This is 0.67% less than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 7.19% from a day low at $2.78 to a day high of $2.98.
30 day high of the REED stock price was $3.25 and low was $2.43.
90 day high was $3.25 and low was $1.90.
52 week high for the Reeds - $3.95 and low - $1.55.
Reeds lies in the middle of a wide and strong 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 20.93% during the next 3 months and, with 90% probability hold a price between $3.01 and $3.76 at the end of this period.
Reeds 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 $2.69 and $2.62. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday March 18, 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 49 and the stock is currently not being overbought or oversold
Support & Resistance
Reeds finds support from accumulated volume at $2.87.
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 $0.20 between high and low, or 7.19%. For the last week the stock has had a daily average volatility of 7.45%.
Our recommended stoploss: $2.80 (-5.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
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Reeds 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Hold/Accumulate.