Fri 20'th Apr 2018
WD-40 Company Stock Analysis
Technical stock analysis for Fri 20'th Apr 2018
WD-40 Company fell by -1.02% in the last day from $132.95 to $131.60 and has now fallen 4 days in a row. The price has risen in 6 of the last 10 days and is up by 2.29% 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 -30 524 shares and in total 30 951 shares bought and sold for approximately $4.07 million.
|Shorts||30.87% ( 2018-03-29 )|
WD-40 Company lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.85% during the next 3 months and, with 90% probability hold a price between $136.33 and $150.69 at the end of this period.
There are few to none technical positive signals at the moment. WD-40 Company holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $133.56 and $131.62. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday April 17, 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 57 and the stock is currently not being overbought or oversold
Support & Resistance
WD-40 Company finds support from accumulated volume at $131.00. On the upside the stock meets some resistance just above today's level from accumulated volume at $131.75, $133.00 and $133.70.
The stock is about to test the resistance from accumulated volume at $131.75 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $1.30 (0.99%) between high and low. For the last week, the stock has had a daily average volatility of 2.09%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The WD-40 Company stock holds several negative signals and despite the positive trend we believe WD-40 Company will perform weak in the next couple of days or weeks. Therefore, we 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 Buy Candidate to a Sell Candidate.
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