XGTI - XG Technology

Industry: Wireless Communications Sector: Technology Exchange: NASDAQ

Thu 19'th Oct 2017

PERIOD 2017-07-20 - 2017-10-19
CHANGE -2.48%
PRICE $1.57
VOLUME
Buy
TREND
Sell

MV LONG
Sell

MV SHORT
Sell

PIVOT
Sell

MACD
Buy

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XG Technology Stock Analysis

Technical stock analysis for Thu 19'th Oct 2017

Sell candidate since 2017-10-11 Loss -10.80%

XG Technology fell by -2.48% in the last day from $1.61 to $1.57 The price has fallen in 7 of the last 10 days and is down by -7.65% for this period. Volume has increased in the last day by 73 806 shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 267 375 shares bought and sold for approximately $419 779.

Trend

XG Technology lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.66% during the next 3 months and, with 90% probability hold a price between $0.83 and $1.20 at the end of this period.

Signals

There are few to none technical positive signals at the moment. XG Technology 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 $1.65 and $1.69. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday October 10, 2017, which indicates further falls until a new bottom pivot has been found. XG Technology 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".

Relative Strength Index (RSI)

RSI14 is 45 and the stock is currently not being overbought or oversold

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance from accumulated volume at $1.67, $1.76 and $1.84.

Price: $1.57 Resistance: $1.67

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 $0.05 (3.21%) between high and low. For the last week, the stock has had a daily average volatility of 5.67%.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

Evaluation

XG Technology 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.

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