Fri 26'th May 2017
XG Technology Stock Analysis
Technical stock analysis for Fri 26'th May 2017
Sell candidate since 2017-05-25 Loss -1.09%
XG Technology lies in the middle of a very 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 8.0% during the next 3 months and, with 90% probability hold a price between USD 1.51 and USD 2.20 at the end of this period.
XG Technology 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 USD 1.85. On a fall, the stock will find some support from the long-term average at approximately USD 1.55. 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 Wednesday May 24, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 65 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 1.58 and USD 1.49. On the upside the stock meets some resistance from accumulated volume at USD 2.02, USD 1.86 and USD 1.95.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, XG Technology finds support just below today's level at 1.58. If this is broken, then the next support from accumulated volume will be at 1.49 and 1.42.
This stock may move much during a day (volatility) and with periodic low trading volume this stockstock is considered to be "high risk". During the last day, the stock moved USD 0.10 between high and low, or 5.65%. For the last week the stock has had a daily average volatility of 11.65%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
XG Technology holds several negative signals and we believe that 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.