Buy Score Rank #2818 out of #5176
Wed 26'th Jul 2017
Stein Mart Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Hold candidate since 2017-07-25 Gain 1.50%
Stein Mart lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -35.72% during the next 3 months and, with 90% probability hold a price between $0.30 and $1.02 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday July 18, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Stein Mart 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 $1.49. On a fall, the stock will find some support from the short-term average at $1.26. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
RSI14 is 41 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 $1.26 and $1.13. On the upside the stock meets some resistance from accumulated volume at $1.53, $1.54 and $1.55.
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, Stein Mart finds support just below today's level at $1.26. If this is broken, then the next support from accumulated volume will be at $1.13 and $1.11.
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 $0.06 between high and low, or 4.62%. For the last week the stock has had a daily average volatility of 7.78%.
Our recommended stoploss: $1.28 (-5.42%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 6 days ago.)
Stein Mart 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.
Your capital is at risk.