Wednesday, May 04, 2016 3:32:01 PM
A strong trend. Good forcast!
Technical commentary:
CTS Corporation is up by CTS Corporation gaining10.11% yesterday from USD 16.22 to USD 17.86 The price has been going up and down in this period, and there has been a 8.57% gain for the last 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and in total there were CTS Corporation gaining204 318 more shares traded than the day before. In total there were 297 613 shares bought and sold for approx. USD 5,32 million.
Trend
CTS Corporation has broken the strong rising the short-term trend up and an even stronger rising rate is indicated. As for the reaction there will be support on the roof on the current trend broken, which is USD 17.67, a level that may pose a second chance to hit a runner. According to fan-theory USD 19.06 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Signals
Only positive signals in the chart today. CTS Corporation 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 USD 16.85 and USD 16.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point at Mon. 02 May 2016 and this 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.
Relative Strenght Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
RSI charts for CTS Corporation
Support & Resistance
On the downside the stock finds support just below today's level from accumulated volume at USD 15.91 and USD 15.46 There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
There is natural risk involved when a stock is testing a support level, as if this is broken the stock may fall to the next support level. In this case CTS Corporation finds support just below today's level at 15.91. If this is broken the next support from accumulated volume will be at 15.46 and 15.01.
Risk
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 2.09 between high and low, and this equals 12.29%. For the last week the stock has had a daily average volatility of 4.71%.
Evaluation
CTS Corporation holds several positive signals and has broken the strong rising trend up. As the stock is also in very good technical shape, we therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommandation for this stock from Hold/Accumulate to Buy Candidate since last evaluation.
Our shortterm conclussion: Buy Candidate
Source: Source
Technical commentary:
CTS Corporation is up by CTS Corporation gaining10.11% yesterday from USD 16.22 to USD 17.86 The price has been going up and down in this period, and there has been a 8.57% gain for the last 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and in total there were CTS Corporation gaining204 318 more shares traded than the day before. In total there were 297 613 shares bought and sold for approx. USD 5,32 million.
Trend
CTS Corporation has broken the strong rising the short-term trend up and an even stronger rising rate is indicated. As for the reaction there will be support on the roof on the current trend broken, which is USD 17.67, a level that may pose a second chance to hit a runner. According to fan-theory USD 19.06 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Signals
Only positive signals in the chart today. CTS Corporation 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 USD 16.85 and USD 16.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point at Mon. 02 May 2016 and this 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.
Relative Strenght Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
RSI charts for CTS Corporation
Support & Resistance
On the downside the stock finds support just below today's level from accumulated volume at USD 15.91 and USD 15.46 There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
There is natural risk involved when a stock is testing a support level, as if this is broken the stock may fall to the next support level. In this case CTS Corporation finds support just below today's level at 15.91. If this is broken the next support from accumulated volume will be at 15.46 and 15.01.
Risk
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 2.09 between high and low, and this equals 12.29%. For the last week the stock has had a daily average volatility of 4.71%.
Evaluation
CTS Corporation holds several positive signals and has broken the strong rising trend up. As the stock is also in very good technical shape, we therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommandation for this stock from Hold/Accumulate to Buy Candidate since last evaluation.
Our shortterm conclussion: Buy Candidate
Source: Source
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