SPLK - Splunk Inc. Mon 27'th Feb 2017
Stock analysis for Mon 27'th Feb 2017 (Updated daily)
Sell candidate since 2017-02-27
Splunk Inc. Stock Analysis
Splunk Inc. fell by -0.29% in the last day, from USD 62.80 to USD 62.62. , and has now fallen 4 day in a row The price has fallen in 6 of the last 10 days and is down by -0.05% 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 -2.75 million shares and in total, 1.91 million shares bought and sold for approx. USD 119 million.
Splunk Inc. lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.9% during the next 3 months and, with 90% probability hold a price between USD 65.87 and USD 77.00 at the end of this period.
Splunk Inc. holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 63.93. On a fall, the stock will find some support from the long-term average at approximately USD 59.15. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. 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 Wednesday February 22, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 63 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 USD 57.62 and USD 56.33. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 62.80, USD 64.90 and USD 64.98.
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, Splunk Inc. finds support just below today's level at 57.62. If this is broken, then the next support from accumulated volume will be at 56.33 and 53.33. The stock is about to test the resistance from accumulated volume at USD 62.80 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 1.78 between high and low, or 2.90%. For the last week, the stock has had a daily average volatility of 3.69%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Splunk Inc. holds several negative signals and we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.