Buy Score Rank #1121 out of #5176
Fri 18'th Aug 2017
ZAGG Inc Stock Analysis
Technical stock analysis for Fri 18'th Aug 2017
Buy candidate since 2017-08-08 Gain 9.14%
ZAGG Inc lies in the middle of a wide and strong 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 18.74% during the next 3 months and, with 90% probability hold a price between $10.91 and $13.33 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday August 15, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. ZAGG Inc 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 $10.59. On a fall, the stock will find some support from the long-term average at approximately $9.13. 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.
Relative Strength Index (RSI)
RSI14 is 70 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 $8.85 and $8.50. On the upside the stock meets some resistance just above today's level from accumulated volume at $10.95, $11.00 and $11.15.
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, ZAGG Inc finds support just below today's level at $8.85. If this is broken, then the next support from accumulated volume will be at $8.50 and $8.45. The stock is about to test the resistance from accumulated volume at $10.95 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.37 between high and low, or 3.63%. For the last week, the stock has had a daily average volatility of 5.13%.
Our recommended stoploss: $9.73 (-6.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 3 days ago.)
Several short-term signals, along with a general good trend, are positive and 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.
Your capital is at risk.