Credit Suisse X-Links Crude Oil Shares Covered Call ETN Forecast and Stock Analysis
Technical USOI stock analysis for March 22, 2019.
Credit Suisse X-Links Crude Oil Shares Covered Call ETN fell by -0.42% in the last day from $22.99 to $22.90 The price has risen in 6 of the last 10 days and is up by 3.98% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -1 885 shares and in total 4 392 shares bought and sold for approximately $100 565.00.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the USOI stock was $22.90. This is 0.42% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 1.51% from a day low at $22.66 to a day high of $23.00.
30 day high of the USOI stock price was $23.10 and low was $21.65.
90 day high was $23.63 and low was $18.35.
52 week high for the Credit Suisse X-Links Crude Oil Shares Covered Call ETN - $33.00 and low - $18.35.
Credit Suisse X-Links Crude Oil Shares Covered Call ETN lies in the lower part of a strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $22.55 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 15.06% during the next 3 months and, with 90% probability hold a price between $25.95 and $28.05 at the end of this period.
Credit Suisse X-Links Crude Oil Shares Covered Call ETN 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 $22.89 and $22.32. 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 March 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 68 and the stock is currently not being overbought or oversold
Support & Resistance
Credit Suisse X-Links Crude Oil Shares Covered Call ETN finds support from accumulated volume at $22.30.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $21.98 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.