Tech Data Corporation Forecast and Stock Analysis
Technical TECD stock analysis for Wednesday June 19, 2019.
Tech Data Corporation gained 0.45% in the last trading day ( Wednesday, 19th Jun 2019 ), rising from $100.36 to $100.81 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 1.70% from a day low at $99.65 to a day high of $101.34. The price has risen in 8 of the last 10 days and is up by 8.56% over the past 2 weeks. Volume fell in the last day by -49 395 shares, and in total, 262 620 shares bought and sold for approximately $26.47 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the TECD stock price was $101.82 and low was $90.40.
- 90 day high was $111.08 and low was $90.40.
- 52 week high for the Tech Data Corporation - $111.08 and low - $66.93.
Tech Data Corporation lies the upper part of a wide and falling 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 $101.78 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.66% during the next 3 months and, with 90% probability hold a price between $79.00 and $91.95 at the end of this period.
Only positive signals in the chart today. Tech Data Corporation 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 $98.91 and $98.44. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday June 05, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Tech Data Corporation finds support from accumulated volume at $98.45.
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 $1.69 (1.70%) between high and low. For the last week, the stock has had a daily average volatility of 2.15%.
Our recommended stoploss: $96.77 (-4.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 10 days ago.)
2.15 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, 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.
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|TECD $100.81 ($0.45 0.45%)|
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