SPLK - Splunk Inc.

Industry: Application Software Sector: Technology | Exchange: NASDAQ

Buy Candidate
Wed 20'th Sep 2017

PERIOD COVERED 2017-06-21 - 2017-09-20
CHANGE 1.01%
PRICE $68.94
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

BOLLINGER
Buy
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Splunk Inc. Stock Analysis

Technical stock analysis for Wed 20'th Sep 2017

Buy candidate since 2017-09-15 Gain 2.56%

Splunk Inc. gained 1.01% in the last trading day, rising from $68.25 to $68.94 The price has been going up and down for this period, and there has been a 1.4% gain for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 2.78 million more shares were traded than the day before. In total, 3.48 million shares bought and sold for approximately $239.99 million.

Trend

Splunk Inc. lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $70.01 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 18.84% during the next 3 months and, with 90% probability hold a price between $73.40 and $83.20 at the end of this period.

Signals

Only positive signals in the chart today. Splunk 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 $68.03 and $63.32. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday September 08, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Relative Strength Index (RSI)

RSI14 is 67 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 $65.39 and $60.74. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

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 $65.39. If this is broken, then the next support from accumulated volume will be at $60.74 and $57.78.

Support: $65.39 Price: $68.94
S: $65.39 Price: $68.94

Risk

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 $2.35 between high and low, or 3.52%. For the last week, the stock has had a daily average volatility of 1.86%.

Our recommended stoploss: $65.14 (-5.51%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 8 days ago.)

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

Several short-term signals, along with a general good trend, 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.

Buy Candidate

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