SMRT - Stein Mart Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-24
Stein Mart Stock Analysis
Stein Mart gained 7.67% in the last trading day, rising from USD 3.65 to USD 3.93. The price has fallen in 6 of the last 10 days and is down by -7.75% for this period. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 402 077 more shares were traded than the day before. In total, 912 214 shares bought and sold for approximately USD 3.59 million.
Stein Mart lies in the lower of a very wide and strong falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 3.62 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -28.3% during the next 3 months and, with 90% probability hold a price between USD 2.60 and USD 3.73 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday January 23, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 4.96. On a fall, the stock will find some support from the short-term average at USD 3.84. 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.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 21 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Stein Mart finds support from accumulated volume at USD 3.90, USD 3.84, and USD 3.75. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 3.94, USD 4.26 and USD 4.51.
The stock is about to test the resistance from accumulated volume at USD 3.94 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 USD 0.32 between high and low, or 8.77%. For the last week, the stock has had a daily average volatility of 6.94%.
Stein Mart is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: USD 3.78 (-3.82%) ( based on support and risk)
Several short-term signals are positive and despite the stock being in a strong falling trend 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Buy Candidate.