Absolute Software Corporation (ABST.CA) Technical Analysis
TSX:ABST • CA00386B1094
Current stock price
ABST.CA Technical Rating and Analysis
We assign a technical rating of 8 out of 10 to ABST. Both in the recent history as in the last year, ABST has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- ABST is part of the Software industry. There are 64 other stocks in this industry. ABST outperforms 96% of them.
- ABST is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ABST is lagging the market slightly.
- Looking at the yearly performance, ABST did better than 93% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
- In the last month ABST has a been trading in a tight range between 15.02 and 15.25.
- Considerably lower volume is observed in the last couple of days.
ABST.CA Weekly and Daily overview Charts
ABST.CA Setup Rating and Analysis
ABST has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 15.22. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 15.14, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ABST in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
ABST.CA Support and Resistance Analysis
10.19
3 important support areas can be observed.
- A support zone ranging from 14.91 to 15.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @10.89 from a trend line in the weekly time frame.
- Support @10.29 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 15.22 to 15.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @15.93 from a horizontal line in the daily time frame.
- A resistance zone ranging from 16.28 to 16.28. This zone is formed by a combination of multiple trend lines in the weekly time frame.
ABST.CA 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 | UP | POSITIVE | The long term trend for ABST.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ABST.CA is up. |
| ChartMill Relative Strength | 93.58 | POSITIVE | ABST.CA has a high relative strength, it outperformed 93.58% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ABST.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ABST.CA is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ABST.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.75 | NEUTRAL | The RSI value for ABST.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests ABST.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 74.35 | NEUTRAL | The Stochastics value for ABST.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 0.67 | LOW VOLATILITY | The low ATR as a percentage value for ABST.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 24.1 | NEUTRAL | The ADX value for ABST.CA suggests a possible start of a new trend. |
ABST.CA Chart- and CandleStick Pattern Analysis
ABST.CA Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.35 | 15.08 | 0.27 (1.76%) | 25.00% |
| An entry @15.35. This is a Buy Stop order right above the resistance zone. | An exit @15.08. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.27 points, which is 1.76%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.44%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
ABST.CA Technicals: Chart, Performance Metrics, Trend & Indicators
TSX:ABST (7/28/2023, 7:00:00 PM)
15.2
+0.01 (+0.07%)
Absolute Software Corporation / ABST.CA TA FAQ
Can you provide the ChartMill technical rating for Absolute Software Corporation?
ChartMill assigns a technical rating of 7 / 10 to ABST.CA.
What is the current trend direction of Absolute Software Corporation (ABST.CA) stock?
The current trend direction for Absolute Software Corporation (ABST.CA) is Bullish.
Can you provide the RSI signal for Absolute Software Corporation?
Absolute Software Corporation (ABST.CA) has an RSI value of 58.7463. This indicates that the stock is currently neutral.
What is the buy/sell signal for Absolute Software Corporation (ABST.CA) stock?
The buy/sell signal for Absolute Software Corporation (ABST.CA) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for Absolute Software Corporation?
Absolute Software Corporation (ABST.CA) has a support level at 15.14 and a resistance level at 15.22. Check the full technical report for our detailed analysis of ABST.CA support and resistance levels.