Bullish vs. Bearish (2 opinions)
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RVP Forecast and Technical Stock Analysis
Buy candidate since 2019-09-11 Gain 6.96% PDF
Retractable Technologies, Inc gained 1.02% in the last trading day ( Wednesday, 18th Sep 2019 ), rising from $0.90 to $0.91 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 13.82% from a day low at $0.90 to a day high of $1.02. The price has risen in 9 of the last 10 days and is up by 13.42% 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, 560 983 more shares were traded than the day before. In total, 589 196 shares bought and sold for approximately $536 286.00.
- 30 day high of the RVP stock price was $1.02 and low was $0.74.
- 90 day high was $1.02 and low was $0.62.
- 52 week high for Retractable Technologies, Inc - $1.34 and low - $0.54.
Retractable Technologies, Inc lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.92 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 23.93% during the next 3 months and, with 90% probability hold a price between $0.99 and $1.14 at the end of this period.
Only positive signals in the chart today. Retractable Technologies, Inc 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 $0.88 and $0.80. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday September 11, 2019, which indicates further gains until a new top pivot has been found. Retractable Technologies, Inc 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)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 87 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.82 and $0.76.
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, Retractable Technologies, Inc finds support just below today's level at $0.82. If this is broken, then the next support from accumulated volume will be at $0.76 and $0.70.
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 $0.12 between high and low, or 13.82%. For the last week, the stock has had a daily average volatility of 7.86%.
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. Since the Retractable Technologies, Inc has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $0.87 (-3.87%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)
7.86 %Average volatility
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Retractable Technologies, Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!