Superior Drilling Products, Inc Forecast and Stock Analysis
Technical SDPI stock analysis for February 15, 2019.
|Shorts||1.67% ( 2019-01-31 )|
Superior Drilling Products, Inc fell by -1.80% in the last day from $1.67 to $1.64 The price has fallen in 6 of the last 10 days and is down by -5.75% for this period. Volume has increased in the last day by 78 133 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, 141 001 shares bought and sold for approximately $231 242.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the SDPI stock was $1.64. This is 1.8% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 8.20% from a day low at $1.61 to a day high of $1.74.
30 day high of the SDPI stock price was $2.20 and low was $1.42.
90 day high was $2.20 and low was $1.02.
52 week high for the Superior Drilling Products, Inc - $5.05 and low - $1.02.
Given the current horizontal trend you can expect Superior Drilling Products, Inc with 90% probability to be traded between $1.10 and $2.16 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.
Superior Drilling Products, 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 $1.59 and $1.56. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday February 14, 2019, which indicates further falls until a new bottom pivot has been found. Superior Drilling Products, Inc 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".
Relative Strength Index (RSI)
RSI14 is 37 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.54 and $1.51.
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, Superior Drilling Products, Inc finds support just below today's level at $1.54. If this is broken, then the next support from accumulated volume will be at $1.51 and $1.31.
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 8.20%. For the last week, the stock has had a daily average volatility of 9.36%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Evaluation: Sell Candidate
Superior Drilling Products, 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.