Hold/Accumulate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
-0.09%
PRICE
$66.43
VOLUME
Buy
TREND
Buy
MV LONG
Buy
MV SHORT
Sell
PIVOT
Sell
MACD
Sell
Request Prediction
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Splunk Inc. Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Hold candidate since 2017-05-23

Splunk Inc. fell by -0.09% in the last day, from USD 66.49 to USD 66.43 The price has risen in 6 of the last 10 days , but is still down by -0.51% for this period. Volume has increased in the last day by 0.02 million shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.33 million shares bought and sold for approximately USD 88.58 million.

Trend

Splunk Inc. lies in the middle of a wide and weak 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 9.6% during the next 3 months and, with 90% probability hold a price between USD 68.14 and USD 76.14 at the end of this period.

Signals

There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Monday May 22, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 66.78. On a fall, the stock will find some support from the long-term average at approximately USD 64.14. 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.

Relative Strength Index (RSI)

RSI14 is 57 and the stock is currently not being overbought or oversold

Support & Resistance

Splunk Inc. finds support from accumulated volume at USD 63.70, USD 62.80, and USD 60.70. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 68.83, USD 68.30 and USD 66.49.

The stock is about to test the resistance from accumulated volume at USD 68.83 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 1.95 (2.98%) between high and low. For the last week, the stock has had a daily average volatility of 2.82%.

Our recommended stoploss: USD 63.68 (-4.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)

Evaluation

Splunk 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.

Hold/Accumulate

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