Finance

PHH Corporation (PHH) technical analysis: Which way the stock is headed?

PHH Corporation (NYSE:PHH) fell by -6.34% in Monday’s trading session from $14.20 to $13.30 The stock price went upward in 5 of the last 10 days, but has retreated -6.27% over the same course of time. Volume has increased in Monday’s trading session by 1.40 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, 2.91 M shares exchanged hands for about $38.67 million.

Inside PHH’s Recent Trend

PHH Corporation (PHH) has broken the weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $13.66. A reaction back to this level may hold a second chance to get out before further falls.

PHH Corporation Technical Signals



PHH has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $14.07 and $14.03. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Friday September 01, 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.

PHH Corporation (NYSE:PHH) Support And Resistance Levels

There is no support from accumulated volume below today’s level and given the right condition the stock may perform very badly in the next couple of days. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $13.39, $14.11 and $14.20.




Accumulated volume is going to prevent the price from rising further at $13.39 and this action will lead the price to take a temporary pause or stay muted for a few days.

PHH Corporation (PHH) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.19 (9.08%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.45%.

PHH Corp is in oversold territory based on Relative Strength Index reading (19). 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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