Comstock Resources, Inc. (Public, NYSE:CRK) – Technical Analysis
Highlighting: Comstock Resources, Inc. (NYSE:CRK)
Today’s report seeks to identify stocks that have been significantly depreciated and now are revealing a technical turnaround. Stocks were filtered under the following criteria: favorable money flow as indicated by a Bullish Crossover with respect to MFI, favorable MACD that has showed signs of bottoming and is now closing in on its signal line.
The universe of stocks has now been expanded to 1,667, all available for download with full analysis via the link at the bottom of this post labeled “Today’s Technical Analysis”. Of these 1,667 stocks, 62% advanced, 35% declined at the remaining stayed flat on the day. The result is an up/down ratio of 1.77, signs of a clearly bullish market. Gains across the stocks averaged 0.32% on almost 12% lower volume. The degree to which stocks reside above the 50-day moving average continues to get stronger, now at 83% of all equities. Market weakness and indecision is running out of places to hide.
Chart courtesy of StockCharts.com
Comstock Resources, Inc. Common (CRK)
33.13
+ 0.62 (1.91%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
32.02
32.58
32.88
33.44
33.74
Expected Short-Term Trading Range: 33.35 – 39.43
Support & Resistance Analysis
Broke Lwr Resistance (1)
MACD Analysis
Negative/Increasing
MACD
MACD vs. Signal
Below/Thinning
-1.517
RSI Analysis
Below 50
RSI
Stochastic (Fast) Analysis
Oversold but Rebounding
32.614
50-Day MA Analysis
Below 50-Day MA
%K (fast)
200-Day MA Analysis
Below 200-Day MA
14.235
Critical Level Analysis
Broke Below Previous Trend
Comstock Resources, Inc. Common (CRK) Seasonality
Analysis has revealed that with a buy date of July 24 and a sell date of July 1, investors have benefited from a total return of 3363.96% over the last 10 years.This scenario has shown positive results in 9 of those periods.
Conversely, the best return over the maximum number of positive periods reveals a buy date of October 13 and a sell date of June 1, producing a total return over the same 10-year range of 1457.29% with positive results in 10 of those periods.
The buy and hold return for the past 10 years was 1313.59%.
Comments:
This stock shows just about everything you’d want to see when identifying a stock that has hit a technical bottom…except for a distinguishable support.The stock has been on downward trend for the last few months.Next technical target is $28 should its decline continue (book value of the stock is close to $23).
The upside, however, is the reason this stock is being highlighted.Fundamentals are by no means ideal, but targets place the value of the stock around $43 and institutions have been seen accumulating the stock on net as a result of its value.The stock finds strength around this timeframe, producing gains on average of over 15% between now and the beginning of May.This scenario has proven profitable in 12 of the last 15 periods.The stock is just below its short-term expected trading range, and it certainly has a lot of room to run.
News Headlines for Comstock Resources, Inc. Common (CRK)
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Disclosure: Mr. Vialoux does not own securities mentioned in this report.
Disclaimer: Comments and opinions offered in this report at EquityClock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities.
Data offered in this report is believed to be accurate, but is not guaranteed.
Click Here to learn more about the proprietary, seasonal rotation investment strategy developed by research analysts Don Vialoux, Brooke Thackray, and Jon Vialoux.
