RF Industries Stock Analysis
Technical stock analysis for 18 January 2019
RF Industries gained 3.87% in the last trading day, rising from $8.01 to $8.32 The price has risen in 7 of the last 10 days and is up by 11.38% 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, 21 733 more shares were traded than the day before. In total, 50 902 shares bought and sold for approximately $423 505.00.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the RFIL stock was $8.32. This is 3.87% more than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 6.93% from a day low at $8.01 to a day high of $8.57.
30 day high of the RFIL stock price was $8.57 and low was $5.14.
90 day high was $9.09 and low was $5.14.
52 week high for the RF Industries - $12.75 and low - $2.56.
RF Industries is the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $8.81 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect RF Industries with 90% probability to be traded between $6.32 and $8.78 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. RF Industries 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 $7.99 and $7.50. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 14, 2019, which indicates further gains until a new top pivot has been found. RF Industries 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.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
RF Industries finds support from accumulated volume at $8.05.
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 $0.56 between high and low, or 6.93%. For the last week, the stock has had a daily average volatility of 3.66%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $7.95 (-4.42%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from pivot bottom found 4 days ago.)
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Several short-term signals 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 period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.