Tue 31'st Jul 2018
Haynes International Stock Analysis
Technical stock analysis for Tue 31'st Jul 2018
|Shorts||5.40% ( 2018-07-13 )|
Haynes International gained 0.47% in the last trading day, rising from $42.26 to $42.46, and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 8 of the last 10 days and is up by 11.06% over the past 2 weeks. Volume fell in the last day by -20 277 shares, and in total, 51 416 shares bought and sold for approximately $2.18 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Haynes International has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $42.40, a level that may pose a second chance to hit a runner. According to fan-theory $48.67 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. Haynes International holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $41.40 and $38.99. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday July 11, 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.
Relative Strength Index (RSI)
RSI14 is 86 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
Support & Resistance
Haynes International finds support from accumulated volume at $42.26.
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 $1.36 between high and low, or 3.25%. For the last week, the stock has had a daily average volatility of 3.48%.
The stock is extremely overbought on RSI14 (86). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $40.84 (-3.82%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from pivot bottom found 14 days ago.)
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Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.Click for Top 5 Buy Candidates