Castle Brands Inc. (NYSE:ROX) closed December 07 at $1.31, down -40.99% or $0.91 from its record high price of $2.22. Looking at the other side of the coin, ROX traded as low as $0.65 in the past 52 weeks, and since then the shares have risen 101.54% or $0.66. The recent price momentum makes it one stock to watch in recent days. Its 4.8% appreciation from Wednesday’s close has set alarm bells ringing.
Is Castle Brands Inc. (NYSE:ROX) Performing Well? Castle Brands Inc. (ROX) shares are up 7.38% for the week and that has got investors and traders sitting up and taking note. ROX is already driving a 81.59% rally over the course of the past year and is now up 72.37% since this point in 2017. Speaking of monthly performance, ROX tapped a 11.97% gain. Also, the equity price plunged -1.5% % in three months, taking the six-month decrease to -29.19% as of recent close. With that said, researchers took a deep dive into the hotly debated question: is it too early to buy Castle Brands Inc. (NYSE:ROX).
Castle Brands Inc. (ROX) Soon To Be A $339.34M Company Analyst research firms are expressing bullish stance on Castle Brands Inc. (NYSE:ROX)’s near-term growth potential. They anticipate the ROX stock will hit $2 on a short term (12 month) basis. Their average price target spell out an upbeat performance – a 53% and would give ROX a market capitalization of nearly $339.34M.
Castle Brands Inc. Current Recommendations Valued currently at $1.31, the vast majority of Wall Street analysts continue to say it’s worth buying. Mean recommendation is rated on a 1 to 5 scale. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. The Mean Recommendation is the average rating on a stock by the analyst community.
Is ROX Technically Strong Enough?
Right now, ROX’s beta is 0.44. That makes it -0.56 more volatile than the broad market. Castle Brands Inc. (NYSE:ROX) is -12.49% below its 200-day moving average, providing a measure of resistance for long positions. On a different note, the stock is 6.4% above its 50-day moving average, providing a measure of support for short positions. The average daily volatility for the week was at 9.04%, which was 1.65 higher than that in the past month.
Castle Brands Inc. (ROX) In Neutral Territory From another technical standpoint, Castle Brands Inc. (NYSE:ROX)’s 14-day Relative Strength Index (RSI) has reached 57.66, putting it inside a neutral zone. If the RSI is traveling up and it is between 40 and 80, it is probably an indication of an uptrend. If it moves beyond 70 but cannot hold this ground and instead falls below 70, it could be an indication that the market is overbought and prone to become bearish, at least in the short term. Conversely, if the RSI is traveling down and it is between 60 and 20, it is probably an indication of a downtrend. If it moves below 30 and fails to remain below, it could be an indication that the market is oversold and poised to become bullish, at least in the short term.
How Active Are Castle Brands Inc. (NYSE:ROX) Shares? Technical analysts also use volume to predict trends. The current trading volume of 1.08 sits 58.82% higher than the past 3 month’s readings, indicating near-term traders have been more active toward ROX than usual of late. The company trades on average around 68000 shares per market session. Major moves in volume can signal unusual activity, such as insider trading. Unusual volume can be a major signal that investment gurus and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well ahead of a large spike, so it’s always a smart move to monitor unusual volume. In terms of relative volume, these shares are trading at 1.59x their normal volume.
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