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RNVA - Rennova Health Mon 27'th Feb 2017

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Sell Candidate

Score: -4.08

#4997 of 5165
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Score:
Accuracy: 75.68%
Risk: High
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Stock analysis for Mon 27'th Feb 2017 (Updated daily)

Sell candidate since 2017-02-22

Loss -96.57%

Rennova Health Stock Analysis


Rennova Health fell by -6.57% in the last day, from USD 1.98 to USD 1.85. , and has now fallen 5 day in a row The price has been going up and down for this period, and there has been a -96.57% loss for the last 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 -345 498 shares and in total, 681 341 shares bought and sold for approx. USD 1.26 million.

Trend

has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ( USD ) are considered to be a "second chance" to get out. According to the fan-theory USD 0 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

Signals

There are few to none technical positive signals at the moment. Rennova Health holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at USD 34.29 and USD 63.84. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday February 21, 2017, 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 11 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance from accumulated volume at USD 2.23, USD 1.98.

Risk

This stock may move much during a day (volatility) and with periodic low trading volume this stockstock is considered to be "high risk". During the last day, the stock moved USD 0.30 between high and low, or 16.67%. For the last week the stock has had a daily average volatility of 32.09%.

Rennova Health is overbought on RSI14 (11). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.

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

Evaluation

Rennova Health holds several negative signals and is within a very wide and strong falling trend, so we believe it will still perform weak in the next couple of days or weeks. We therefore 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.

Sell Candidate


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