ABSOLUTE SOFTWARE CORPORATIO (ABST) Stock Technical Analysis
USA - NASDAQ:ABST - CA00386B1094 - Common Stock
We assign a technical rating of 9 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.
ABST has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 11.48, 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
7.63
We found 3 important support areas.
- A support zone ranging from 11.38 to 11.48. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 10.99 to 11.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @7.71 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- Resistance @11.65 from a horizontal line in the daily time frame.
- A resistance zone ranging from 12.06 to 12.08. 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 ABST is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ABST is up. |
| ChartMill Relative Strength | 93.37 | POSITIVE | ABST has a high relative strength, it outperformed 93.37% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ABST is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ABST is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of ABST is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 66.47 | NEUTRAL | The RSI value for ABST is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests ABST has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 94.66 | OVERBOUGHT | The high Stochastics value suggests ABST may be overbought. |
| Average True Range in percent/ATR (20) | 0.34 | LOW VOLATILITY | The low ATR as a percentage value for ABST suggests low volalility. |
| Average Directional Index/ADX (14) | 13.76 | NEGATIVE | The low ADX value for ABST suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 11.51 | 11.46 | 0.05 (0.43%) | 25.00% |
| An entry @11.51. This is a Buy Stop order right above the 10 day high. | An exit @11.46. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.05 points, which is 0.43%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.11%. |
- 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.
11.49
-0.01 (-0.09%)
ABSOLUTE SOFTWARE CORPORATIO / ABST FAQ
Can you provide the ChartMill technical rating for ABSOLUTE SOFTWARE CORPORATIO?
ChartMill assigns a technical rating of 8 / 10 to ABST.
Can you provide the trend direction for ABSOLUTE SOFTWARE CORPORATIO?
The current trend direction for ABSOLUTE SOFTWARE CORPORATIO (ABST) is Bullish.
What is the RSI signal for ABSOLUTE SOFTWARE CORPORATIO (ABST) stock?
ABSOLUTE SOFTWARE CORPORATIO (ABST) has an RSI value of 66.4694. This indicates that the stock is currently neutral.
What is the MACD signal for ABST stock?
The MACD indicator for ABSOLUTE SOFTWARE CORPORATIO (ABST) has a value of -0.0240309, indicating a bearish trend.
What are the support and resistance levels for ABSOLUTE SOFTWARE CORPORATIO (ABST) stock?
ABSOLUTE SOFTWARE CORPORATIO (ABST) has a support level at 11.48 and a resistance level at 11.65. Check the full technical report for our detailed analysis of ABST support and resistance levels.