Sachem Capital Corp Forecast and Stock Analysis
Technical SACH stock analysis for February 21, 2019.
|Shorts||0.44% ( 2019-01-31 )|
Sachem Capital Corp fell by -2.17% in the last day from $4.60 to $4.50 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 5.63% over the past 2 weeks. Volume has increased in the last day by 23 871 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 80 935 shares bought and sold for approximately $364 208.00.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the SACH stock was $4.50. This is 2.17% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 2.89% from a day low at $4.50 to a day high of $4.63.
30 day high of the SACH stock price was $4.76 and low was $4.01.
90 day high was $4.76 and low was $3.80.
52 week high for the Sachem Capital Corp - $4.76 and low - $3.30.
Sachem Capital Corp 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 11.87% during the next 3 months and, with 90% probability hold a price between $4.70 and $5.22 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday February 19, 2019, which indicates further falls until a new bottom pivot has been found. Sachem Capital Corp gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". Sachem Capital Corp holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $4.53. On a fall, the stock will find some support from the long-term average at approximately $4.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 74 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
On the downside, the stock finds support just below today's level from accumulated volume at $4.11 and $4.02.
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, Sachem Capital Corp finds support just below today's level at $4.11. If this is broken, then the next support from accumulated volume will be at $4.02 and $4.01.
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 $0.13 between high and low, or 2.89%. For the last week, the stock has had a daily average volatility of 2.77%.
Our recommended stoploss: $4.31 (-4.28%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 74 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
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Sachem Capital Corp 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 Buy Candidate to a Hold/Accumulate.