Source Capital Inc Stock Analysis
Technical stock analysis for Tue 11'th Dec 2018
|Shorts||0.38% ( 2018-11-15 )|
Source Capital Inc fell by -1.66% in the last day from $33.12 to $32.57 and has now fallen 6 days in a row. The price has fallen in 7 of the last 10 days and is down by -13.03% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -10 365 shares and in total 18 262 shares bought and sold for approximately $594 793.00.
Source Capital Inc has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($33.16) are considered to be a "second chance" to get out. According to the fan-theory $29.56 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
There are few to none technical positive signals at the moment. Source Capital Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $33.95 and $36.62. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday December 03, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 29 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.19 between high and low, or 3.64%. For the last week the stock has had a daily average volatility of 3.75%.
Source Capital Inc is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Source Capital Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
|Get a PRO membership|
To Reveal Top 5 Strong Sell Candidates
Follow Auto Portfolios gaining up to 30%.
Disclaimer: There is no guarantee against any loss. Your capital is at risk.
Click to become a PRO member