Tue 18'th Sep 2018
Source Capital Inc Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||0.12% ( 2018-08-31 )|
Source Capital Inc gained 0.27% in the last trading day, rising from $40.14 to $40.25 , and has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 6 of the last 10 days and is up by 0.17% over the past 2 weeks. Volume fell in the last day by -10 520 shares, and in total, 6 102 shares bought and sold for approximately $245 606.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Given the current horizontal trend you can expect Source Capital Inc with 90% probability to be traded between $39.87 and $41.13 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.
A buy signal was issued from a pivot bottom point on Monday September 10, 2018, 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. Source Capital Inc 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 $40.28. On a fall, the stock will find some support from the short-term average at $40.01. 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.
* 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 31 and the stock is currently not being overbought or oversold
Support & Resistance
Source Capital Inc finds support from accumulated volume at $39.93.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Since the Source Capital Inc has been rising for 7 days in a row, the risk for the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stoploss: $37.99 (-5.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 6 days ago.)
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Source Capital Inc 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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.Click for Top 5 Hold/Accumulates
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