SHLS Stock Shoals Technologies Group (SHLS, $5.68) entered Downtrend as Momentum indicator drops below 0 level on Sep 25, 2024
SHLS's RSI Oscillator slumps into oversold zone
The RSI Indicator for SHLS moved into overbought territory on October 08, 2024. Be on the watch for a price drop or consolidation in the future -- when this happens, think about selling the stock or exploring put options.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SHLS advanced for three days, in of 199 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.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 25, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SHLS as a result. In of 64 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for SHLS turned negative on September 25, 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 33 similar instances when the indicator turned negative. In of the 33 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 September 25, 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 October 03, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 11 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 .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SHLS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for SHLS entered a downward trend on October 08, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 81%.
