Castle Brands Inc Forecast and Stock Analysis
Technical ROX stock analysis for March 18, 2019.
|Shorts||14.63% ( 2019-02-28 )|
Castle Brands Inc fell by -2.84% in the last day from $0.86 to $0.83 The price has fallen in 6 of the last 10 days and is down by -5.9% 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 -273 318 shares and in total 128 141 shares bought and sold for approximately $106 447.00.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the ROX stock was $0.83. This is 2.84% less than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 2.99% from a day low at $0.82 to a day high of $0.84.
30 day high of the ROX stock price was $0.95 and low was $0.77.
90 day high was $0.95 and low was $0.74.
52 week high for the Castle Brands Inc - $1.42 and low - $0.74.
Given the current horizontal trend you can expect Castle Brands Inc with 90% probability to be traded between $0.76 and $0.91 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.
Some negative signals were issued as well, and these may have some influence on the near short-term development. Castle Brands Inc holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.84. On a fall, the stock will find some support from the short-term average at $0.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Friday March 15, 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 36 and the stock is currently not being overbought or oversold
Support & Resistance
Castle Brands Inc finds support from accumulated volume at $0.83.
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 $0.02 between high and low, or 2.99%. For the last week the stock has had a daily average volatility of 3.74%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Castle Brands Inc holds several negative signals and we believe that it will still perform weakly 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 Buy Candidate to a Sell Candidate.