Fri 15'th Jun 2018
500com Limited Stock Analysis
Technical stock analysis for Fri 15'th Jun 2018
500com Limited fell by -5.24% in the last day from $16.02 to $15.18 The price has fallen in 7 of the last 10 days and is down by -22.11% for this period. 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 -247 485 shares and in total 186 157 shares bought and sold for approximately $0.00.
|Shorts||22.04% ( 2018-05-31 )|
500com Limited is the lower part of a very wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at $14.90 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect 500com Limited with 90% probability to be traded between $15.07 and $21.34 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.
There are few to none technical positive signals at the moment. 500com Limited holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $16.91 and $18.29. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday June 14, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 37 and the stock is currently not being overbought or oversold
Support & Resistance
500com Limited finds support from accumulated volume at $14.89.
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 $0.85 between high and low, or 5.67%. For the last week, the stock has had a daily average volatility of 10.70%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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500com Limited 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.
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