CHDN Technical Analysis - CHURCHILL DOWNS INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to CHDN. CHDN scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, CHDN is a bad performer in the overall market: 89% of all stocks are doing better.

CHDN is part of the Hotels, Restaurants & Leisure industry. There are 135 other stocks in this industry, of which 61% are performing better than CHDN.

CHDN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

CHDN is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CHURCHILL DOWNS INC / CHDN Weekly stock chart

CHURCHILL DOWNS INC / CHDN Daily stock chart

Setup Rating and Analysis

The technical rating of CHDN is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

92.24

114.87

We found 1 important support area.

Support @93.17 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 95.84 to 97.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 104.94 to 106.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @113.73 from a horizontal line in the daily time frame.

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Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for CHDN is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for CHDN is down.
ChartMill Relative Strength	11.22	NEGATIVE	CHDN has a low relative strength, it was outperformed by 88.78% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of CHDN is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of CHDN is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of CHDN is below a declining SMA(200).
Relative Strength Index/RSI (14)	40.9	NEUTRAL	The RSI value for CHDN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.19	POSITIVE	The MACD value suggests CHDN has a positive trend, although the MACD value is declining.
Stochastics (14,3)	54.75	NEUTRAL	The Stochastics value for CHDN is a neutral value.
Average True Range in percent/ATR (20)	2.34	MEDIUM VOLATILITY	The ATR as a percentage value for CHDN suggests some volalility.
Average Directional Index/ADX (14)	15.58	NEGATIVE	The low ADX value for CHDN suggests a weak or negative trend.