Fri 23'rd Feb 2018
State Auto Financial Corporation Stock Analysis
Technical stock analysis for Fri 23'rd Feb 2018
|Shorts||15.07% ( 2018-01-31 )|
State Auto Financial Corporation lies in the lower part of a weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $27.86 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.17% during the next 3 months and, with 90% probability hold a price between $28.47 and $30.95 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday February 22, 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. State Auto Financial Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $28.38 and $28.94. A break-up above any of these levels will issue buy signals. 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.
Relative Strength Index (RSI)
RSI14 is 35 and the stock is currently not being overbought or oversold
Support & Resistance
State Auto Financial Corporation finds support from accumulated volume at $27.94. On the upside the stock meets some resistance just above today's level from accumulated volume at $28.77, $28.98 and $29.81.
The stock is about to test the resistance from accumulated volume at $28.77 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $26.28 (-5.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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State Auto Financial Corporation holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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