GCO, Aroon Indicator entered a Downtrend on Oct 27, 2020.
For the last three days, Tickeron A.I.dvisor has detected that GCO's AroonDown red line is above 70 while the AroonUp green line is below 30 for three straight days. This move could indicate a strong downtrend ahead for GCO, and traders may view it as a Sell signal for the next month. Traders may consider selling the stock or exploring put options. Tickeron A.I.dvisor backtested this indicator and found 196 similar cases, 170 of which were successful. Based on this data, the odds of success are 87%. Current price $18.37 crossed the resistance line at $18.81 and is trading between $18.81 resistance and $18.21 support lines. Throughout the month of 09/25/20 - 10/27/20, the price experienced a -13% Downtrend, while the week of 10/20/20 - 10/27/20 shows a +2% Uptrend.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 28, 2020. You may want to consider selling the stock, shorting the stock, or exploring put options on GCO as a result. In 80 of 99 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 81%.
The Moving Average Convergence Divergence Histogram (MACD) for GCO turned negative on September 24, 2020. 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 48 similar instances when the indicator turned negative. Tickeron A.I. detectec that in 37 of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at 77%.
GCO moved below its 50-day Moving Average on October 13, 2020 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for GCO crossed bearishly below the 50-day moving average on October 19, 2020. This indicates that the trend has shifted lower and could be considered a sell signal. Tickeron A.I. detectec that in 11 of 15 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 73%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 76%.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 28, 2020. You may want to consider selling the stock, shorting the stock, or exploring put options on GCO as a result. In 80 of 99 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 81%.
The Moving Average Convergence Divergence Histogram (MACD) for GCO turned negative on September 24, 2020. 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 48 similar instances when the indicator turned negative. Tickeron A.I. detectec that in 37 of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at 77%.
GCO moved below its 50-day Moving Average on October 13, 2020 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for GCO crossed bearishly below the 50-day moving average on October 19, 2020. This indicates that the trend has shifted lower and could be considered a sell signal. Tickeron A.I. detectec that in 11 of 15 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 73%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 76%.
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