Thu 19'th Oct 2017
XG Technology Stock Analysis
Technical stock analysis for Thu 19'th Oct 2017
Sell candidate since 2017-10-11 Loss -10.80%
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.
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.
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.
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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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