Fri 21'st Apr 2017
YRC Worldwide Stock Analysis
Technical stock analysis for Fri 21'st Apr 2017
Buy candidate since 2017-04-20 Gain 0.96%
YRC Worldwide lies the upper part of a wide and strong falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at USD 10.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -32.1% during the next 3 months and, with 90% probability hold a price between USD 5.64 and USD 7.15 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday April 13, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. YRC Worldwide holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 11.08. On a fall, the stock will find some support from the short-term average at USD 10.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 41 and the stock is currently not being overbought or oversold
Support & Resistance
YRC Worldwide finds support from accumulated volume at USD 10.30, USD 10.25, and USD 10.02. On the upside the stock meets some resistance from accumulated volume at USD 12.97, USD 10.74 and USD 11.99.
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 USD 0.29 (2.82%) between high and low. For the last week, the stock has had a daily average volatility of 3.72%.
Our recommended stoploss: USD 9.98 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 5 days ago.)
Several short-term signals are positive, despite the stock being in a strong falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.