SVVC - Firsthand Technology Value Fund

Industry: Asset Management Sector: Financial

Buy Candidate
Fri 21'st Apr 2017

VOLUME
Buy
TREND
Hold
MV LONG
Buy
MV SHORT
Buy
PIVOT
Sell
MACD
Buy
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Firsthand Technology Value Fund Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Buy candidate since 2017-04-19 Gain 0.80%

Firsthand Technology Value Fund fell by -0.66% in the last day, from USD 8.29 to USD 8.23 The price has risen in 6 of the last 10 days and is up by 1.93% over the past 2 weeks. Volume has increased in the last day by 7 654 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, 15 426 shares bought and sold for approximately USD 126 956.

Trend

Given the current horizontal trend you can expect Firsthand Technology Value Fund with 90% probability to be traded between USD 7.98 and USD 8.76 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.

Signals

Firsthand Technology Value Fund 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 USD 8.18 and USD 8.12. A break down below any of these levels will issue sell signals. 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 Thursday April 20, 2017, which indicates further falls until a new bottom pivot has been found. Firsthand Technology Value Fund gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".

Relative Strength Index (RSI)

RSI14 is 67 and the stock is currently not being overbought or oversold

Support & Resistance

Firsthand Technology Value Fund finds support from accumulated volume at USD 8.19, USD 8.10, and USD 7.71. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 8.30, USD 8.50 and USD 8.38.

The stock is about to test the resistance from accumulated volume at USD 8.30 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 0.08 (0.97%) between high and low. For the last week, the stock has had a daily average volatility of 1.53%.

Our recommended stoploss: USD 7.90 (-4.03%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)

Evaluation

Several short-term signals 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 period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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