ABACUS GLOBAL MANAGEMENT INC (ABL) Stock Technical Analysis
NASDAQ:ABL - Nasdaq - US00258Y1047 - Common Stock - Currency: USD
Taking everything into account, ABL scores 1 out of 10 in our technical rating. ABL's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, ABL is a bad performer in the overall market: 97% of all stocks are doing better.
ABL is part of the Insurance industry. There are 143 other stocks in this industry, of which 94% are performing better than ABL.
ABL 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.
In the last month ABL has a been trading in the 4.80 - 5.70 range, which is quite wide. It is currently trading near the high of this range.
ABL has an average volume of 1140130 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Considerably lower volume is observed in the last couple of days.
ABL has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 5.51. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for ABL 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.
More info and screens
4.77
9.11
We found 2 important support areas.
- Support @5.17 from a trend line in the daily time frame.
- Support @4.82 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 5.51 to 5.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @8.30 from a trend line in the weekly time frame.
- Resistance @9.02 from a horizontal line in the daily time frame.
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 ABL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ABL is neutral. |
| ChartMill Relative Strength | 3.95 | NEGATIVE | ABL has a low relative strength, it was outperformed by 96.05% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ABL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of ABL is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ABL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.58 | NEUTRAL | The RSI value for ABL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests ABL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 81.98 | OVERBOUGHT | The high Stochastics value suggests ABL may be overbought. |
| Average True Range in percent/ATR (20) | 3.85 | MEDIUM VOLATILITY | The ATR as a percentage value for ABL suggests some volalility. |
| Average Directional Index/ADX (14) | 21.56 | NEUTRAL | The ADX value for ABL suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
5.5
-0.05 (-0.9%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryInsurance
Performance
% Chg-0.9%
1 Week1.66%
2 Weeks3.38%
1 Month5.77%
3 Month-37.71%
6 Month-29.58%
12 Month-48.06%
2 Year-39.63%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.21
ATR(20)%3.85%
ATR Inc-2.5%
Range Today0.27
ADR(20)0.21
ADR(20)%3.76%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS3.95
Mansfield-3.58
10 Day High5.7
10 Day Low5.15
20 Day High5.7
20 Day Low4.8
52 Week High11.86
52 Week Low4.6
CS1 End5.17
CR1 Start5.51
Volume & EV
DER(3)6.08%
DER(5)6.46%
Volume1.04M
Volume Incr-1.77%
Vol(5)620.32K
Vol(50)1.14M