ABSOLUTE SOFTWARE CORPORATIO (ABST) Technical Analysis
NASDAQ:ABST • CA00386B1094
Current stock price
ABST Technical Rating and Analysis
Taking everything into account, ABST scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ABST is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- ABST is part of the Software industry. There are 275 other stocks in this industry. ABST outperforms 95% of them.
- ABST is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ABST is performing more or less in line with the market.
- ABST has an average volume of 1217790 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that ABST is one of the better performing stocks in the market, outperforming 93% of all 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 11.29 and 11.50.
- Considerably lower volume is observed in the last couple of days.
ABST Weekly and Daily overview Charts
ABST Setup Rating and Analysis
Besides having an excellent technical rating, ABST 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. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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 Support and Resistance Analysis
7.63
When analyzing the support we can see 3 important 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.
When analyzing the resistance we notice 2 important areas.
- 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.
ABST 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 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. |
ABST Chart- and CandleStick Pattern Analysis
ABST 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 |
|---|---|---|---|
| 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%. | For a 0.11% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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 Technicals: Chart, Performance Metrics, Trend & Indicators
11.49
-0.01 (-0.09%)
ABSOLUTE SOFTWARE CORPORATIO / ABST TA FAQ
Can you provide the ChartMill technical rating for ABSOLUTE SOFTWARE CORPORATIO?
ChartMill assigns a technical rating of 8 / 10 to ABST.
What is the current trend direction of ABSOLUTE SOFTWARE CORPORATIO (ABST) stock?
The current trend direction for ABSOLUTE SOFTWARE CORPORATIO (ABST) is Bullish.
Can you provide the RSI signal for ABSOLUTE SOFTWARE CORPORATIO?
ABSOLUTE SOFTWARE CORPORATIO (ABST) has an RSI value of 66.4694. This indicates that the stock is currently neutral.
What is the buy/sell signal for ABSOLUTE SOFTWARE CORPORATIO (ABST) stock?
The buy/sell signal for ABSOLUTE SOFTWARE CORPORATIO (ABST) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for ABSOLUTE SOFTWARE CORPORATIO?
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.