Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Forecast and Stock Analysis
Technical SBS stock analysis for February 15, 2019.
|Shorts||1.27% ( 2019-01-31 )|
Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp gained 0.28% in the last trading day, rising from $10.63 to $10.66 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has fallen in 6 of the last 10 days and is down by -11.46% for this period. Volume fell in the last day by -2.61 million shares, and in total, 2.15 million shares bought and sold for approximately $22.88 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the SBS stock was $10.66. This is 0.28% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.38% from a day low at $10.51 to a day high of $10.76.
30 day high of the SBS stock price was $12.25 and low was $9.77.
90 day high was $12.25 and low was $6.96.
52 week high for the Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp - $12.25 and low - $5.58.
Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $10.31 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 68.03% during the next 3 months and, with 90% probability hold a price between $17.32 and $21.92 at the end of this period.
Only positive signals in the chart today. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $10.52 and $10.56. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday February 13, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 40 and the stock is currently not being overbought or oversold
Support & Resistance
Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp finds support from accumulated volume at $10.24.
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 $0.25 between high and low, or 2.38%. For the last week, the stock has had a daily average volatility of 5.90%.
Our recommended stoploss: $10.19 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, 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.