SHLS Stock Shoals Technologies Group (SHLS, $4.84) entered Downtrend as Momentum indicator drops below 0 level on Nov 12, 2024
at Tickeron.com
Momentum Indicator for SHLS turns negative, indicating new downward trend
SHLS saw its Momentum Indicator move below the 0 level on November 12, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 66 similar instances where the indicator turned negative. In of the 66 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for SHLS moved out of overbought territory on November 06, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 12 similar instances where the indicator moved out of overbought territory. In of the 12 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for SHLS turned negative on November 13, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 34 similar instances when the indicator turned negative. In of the 34 cases the stock turned lower in the days that followed. This puts the odds of success at .
SHLS moved below its 50-day moving average on November 12, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for SHLS crossed bearishly below the 50-day moving average on November 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SHLS advanced for three days, in of 205 cases, the price rose further within the following month. The odds of a continued upward trend are .
SHLS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 98 cases where SHLS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
