Fri 15'th Jun 2018
Source Capital Inc Stock Analysis
Technical stock analysis for Fri 15'th Jun 2018
Source Capital Inc fell by -0.02% in the last day from $40.61 to $40.60 The price has risen in 6 of the last 10 days and is up by 1.5% over the past 2 weeks. 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 -452 shares and in total 4 434 shares bought and sold for approximately $0.00.
|Shorts||0.16% ( 2018-05-31 )|
Source Capital Inc is the upper part of a narrow and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $40.78 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Source Capital Inc with 90% probability to be traded between $39.42 and $40.90 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.
Source Capital 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 $40.46 and $40.25. 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 June 14, 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.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
Source Capital Inc finds support from accumulated volume at $40.00.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $38.98 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
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Several short-term signals 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 period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
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