Fri 23'rd Feb 2018
ZAGG Inc Stock Analysis
Technical stock analysis for Fri 23'rd Feb 2018
|Shorts||2.40% ( 2018-01-31 )|
ZAGG Inc lies the upper part of a very wide and 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 $16.51 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 -27.20% during the next 3 months and, with 90% probability hold a price between $9.26 and $12.02 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday February 22, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. ZAGG Inc 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 $16.01 and $16.75. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 51 and the stock is currently not being overbought or oversold
Support & Resistance
ZAGG Inc finds support from accumulated volume at $15.90. On the upside the stock meets some resistance from accumulated volume at $17.20, $19.50 and $19.90.
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 $0.65 (4.21%) between high and low. For the last week, the stock has had a daily average volatility of 4.09%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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ZAGG Inc 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.
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