Published October 10, 2018
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Choosing the same theme I chose for my last article for three Indian stocks that was published on Tuesday. Investtech has created algorithms that score any stock based on quantitative criteria. They are trend channel, closeness to support and resistance, volume development, momentum and price formations. Based on Investtech's scoring system and stock selection tool, we have identified three liquid stocks that overall score negative by the algorithms on all time frames. We make sure to choose ones that are liquid enough for anyone to trade. In this case over 50 million USD.
Vulcan Materials Company scores highest on the list of negative stocks with a score of -92 points. The stock was in a sideways trend since the spring of 2016 until a month ago it broke the 110 level and gave a sell signal from rectangel formations both in the medium and the long term charts. Price target from the formation comes to around 81 dollars. Next level of support comes at 70 dollars in the long term chart. There is resistance around 113-116 levels.
Negative volume balance indicates that sellers are aggressive while buyers are passive, and weakens the stock. RSI below 30 shows that the momentum of the stock is strongly negative in the short term which indicates increasing pessimism. The stock is overall assessed as technically negative for the medium term.
Vulcan Materials Company will come out with its quarterly report on the 7th of November 2018.
Investtech's outlook (one to six weeks): Negative
Akamai Technologies has broken down through its rising trend channel in the medium term and scores -88 points as per our automatically generated overview of the stocks. Akamai Technologies has fallen over 21 percent from its top in June and now has given sell signals from three major price formations both in the medium and long term charts.
This fall in price has been supported by increasing volume on the selling side. Negative momentum in the stock also suggests extreme pessimism among investors.
Price target from the formations comes to around 62 dollars, but the stock may fall further to its next support, which is around 53 dollars. In case of a reaction on the other side, there is resistance at 72 dollars.
Investtech's outlook (one to six weeks): Negative
Moody's Corp scores -82 points and the stock has broken down through its rising trend channel in the medium term. Moody's Corp has given a sell signal from a large head and shoulders formation and a price target of 152 dollars. There is resistance around 170 dollars, or the neckline of the formation.
Volume balance is very negative as indicated by three red down arrows on the lower right side of the chart. This indicates that rising volume corresponds well with falling prices and falling volume corresponds with price peaks. This is a negative sign. The stock is overall assessed as technically negative for the medium term.
Investtech's outlook (one to six weeks): Negative
You can go through the Stock Selection section on Investtech's website and check automatically generated analyses and scores for your favourite stocks.
Note: These instruments are traded in currency based on the exchange or country they are listed on.
The analyses are based on closing price as per October 9, 2018.
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.