VAL - Valspar Corporation (The)

Industry: Specialty Chemicals Sector: Basic Materials

Buy Candidate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
0.19%
PRICE
$112.31
VOLUME
Buy
TREND
Hold
MV LONG
Buy
MV SHORT
Buy
PIVOT
Buy
MACD
Sell
Request Prediction
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Valspar Corporation (The) Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Buy candidate since 2017-05-22 Gain 0.19%

Valspar Corporation (The) gained 0.19% in the last trading day, rising from USD 112.10 to USD 112.31 , and has now gained 3 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. The price has fallen in 6 of the last 10 days . Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.52 million more shares were traded than the day before. In total, 1.30 million shares bought and sold for approximately USD 146 million.

Trend

Given the current horizontal trend you can expect Valspar Corporation (The) with 90% probability to be traded between USD 113.12 and USD 114.43 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

Only positive signals in the chart today. Valspar Corporation (The) holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at USD 112.05 and USD 112.12. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday April 20, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Relative Strength Index (RSI)

RSI14 is 43 and the stock is currently not being overbought or oversold

Support & Resistance

Valspar Corporation (The) finds support from accumulated volume at USD 111.75, USD 111.51, and USD 110.98. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 112.45, USD 112.39 and USD 112.44.

The stock is about to test the resistance from accumulated volume at USD 112.45 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 0.22 (0.20%) between high and low. For the last week, the stock has had a daily average volatility of 0.33%.

Our recommended stoploss: USD 105.38 (-6.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 23 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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