AMBEV SA-ADR (ABEV) Stock Technical Analysis
NYSE:ABEV - New York Stock Exchange, Inc. - US02319V1035 - ADR - Currency: USD
Overall ABEV gets a technical rating of 4 out of 10. In the last year, ABEV was a medium performer in the overall market. We are getting mixed signals now in both the short and medium term picture.
Although the technical rating is only medium, ABEV does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 2.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.39, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ABEV in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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2.29
When analyzing the support we can see 2 important areas.
- A support zone ranging from 2.38 to 2.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 2.31 to 2.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 2.49 to 2.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for ABEV is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ABEV is neutral. |
| ChartMill Relative Strength | 49.35 | NEUTRAL | ABEV is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of ABEV is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of ABEV is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of ABEV is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 48.62 | NEUTRAL | The RSI value for ABEV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests ABEV has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 68.79 | NEUTRAL | The Stochastics value for ABEV is a neutral value. |
| Average True Range in percent/ATR (20) | 2.36 | MEDIUM VOLATILITY | The ATR as a percentage value for ABEV suggests some volalility. |
| Average Directional Index/ADX (14) | 12.47 | NEGATIVE | The low ADX value for ABEV suggests a weak or negative trend. |
2.39
-0.03 (-1.24%)