Credit Suisse X-Links Crude Oil Shares Covered Call ETN Stock Analysis
Technical stock analysis for 18 January 2019
Credit Suisse X-Links Crude Oil Shares Covered Call ETN fell by -0.23% in the last day from $21.69 to $21.64 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 8.74% over the past 2 weeks. Volume has increased in the last day by 375 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 2 267 shares bought and sold for approximately $49 057.90.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the USOI stock was $21.64. This is 0.23% less than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 1.94% from a day low at $21.29 to a day high of $21.70.
30 day high of the USOI stock price was $23.61 and low was $18.35.
90 day high was $28.79 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 has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $21.12, a level that may pose a second chance to hit a runner. According to fan-theory $26.10 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Credit Suisse X-Links Crude Oil Shares Covered Call ETN holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $21.69. On a fall, the stock will find some support from the long-term average at approximately $20.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. 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 Friday January 11, 2019, which indicates further falls until a new bottom pivot has been found. Credit Suisse X-Links Crude Oil Shares Covered Call ETN 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". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 89 and the stock is extremely overbought on RSI14, so further reactions should be expected. Some stocks may have a long and hard correction after reaching so high an RSI, but not in all cases. However, the short-term risk has increased drastically and larger movements in the next couple of days can be expected.
Support & Resistance
Credit Suisse X-Links Crude Oil Shares Covered Call ETN finds support from accumulated volume at $21.30.
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 $0.41 between high and low, or 1.94%. For the last week, the stock has had a daily average volatility of 2.85%.
The stock is extremely overbought on RSI14 (89). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Credit Suisse X-Links Crude Oil Shares Covered Call ETN holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.