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Here’s A Quick Technical Analysis Of Chico’s FAS, Inc. (CHS)

Chico’s FAS, Inc. (NYSE:CHS) fell by -3.45% in Tuesday’s trading session from $8.11 to $7.83 and has now fallen 3 consecutive sessions. The price has been moving in both directions for this period, and there has been a 1.03% gain over 10-day period. Volume has increased in Tuesday’s trading session by 1.28 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 5.21 M shares exchanged hands for about $40.76 million.

Inside CHS’s Recent Trend

Chico’s FAS, Inc. (CHS) lies in the middle of a wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -14.14% over the course of a quarter and, with 90% chance the price will be floating in the range of $6.35 and $7.51 in this timeframe.

Chico’s FAS, Inc. Technical Signals



CHS is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $8.55. On a drop, the stock is likely to find some support over the short run, which begins at $7.82. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call. Its pivot point high generated sell signal on Friday August 25, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

Chico’s FAS, Inc. (NYSE:CHS) Support And Resistance Levels

Chico’s FAS, Inc. (CHS) recorded volume accumulation so there will probably be a surplus of buyers at $7.70. In case of gains, the next resistance from accumulated volume will be at $8.70, $9.22 and $9.42.




Chico’s FAS, Inc. (CHS) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.37 between high and low, or 4.73%. The average volatility for the past week stood at 5.06%.

Chico’s FAS Inc is in oversold territory based on Relative Strength Index reading (29). In some cases it takes more time for the trend to shift while the stock is being oversold and the Relative Strength Index keeps moving.

 

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