ABSI Technical Analysis - ABSCI CORP

Technical Rating and Analysis

Overall ABSI gets a technical rating of 1 out of 10. ABSI 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 neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

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

ABSI is part of the Biotechnology industry. There are 538 other stocks in this industry, of which 63% are performing better than ABSI.

ABSI 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.

ABSI has an average volume of 5408460 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month ABSI has a been trading in the 2.32 - 2.89 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, ABSI does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 2.73. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.25

5.89

We found 3 important support areas.

Support @2.41 from a trend line in the weekly time frame.
Support @2.36 from a trend line in the daily time frame.
Support @2.27 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 2.73 to 2.78. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @3.13 from a horizontal line in the weekly time frame.
Resistance @5.83 from a horizontal line in the weekly time frame.

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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 ABSI is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ABSI is neutral.
ChartMill Relative Strength	11.39	NEGATIVE	ABSI has a low relative strength, it was outperformed by 88.61% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ABSI is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ABSI is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ABSI is below a declining SMA(200).
Relative Strength Index/RSI (14)	49	NEUTRAL	The RSI value for ABSI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.03	POSITIVE	The MACD value suggests ABSI has a positive trend, although the MACD value is declining.
Stochastics (14,3)	54.72	NEUTRAL	The Stochastics value for ABSI is a neutral value.
Average True Range in percent/ATR (20)	6.28	HIGH VOLATILITY	The high ATR as a percentage value for ABSI suggests high volalility.
Average Directional Index/ADX (14)	14.27	NEGATIVE	The low ADX value for ABSI suggests a weak or negative trend.