ABSOLUTE SOFTWARE CORPORATIO (ABST) Stock Technical Analysis
NASDAQ:ABST - Nasdaq - CA00386B1094 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to ABST. 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 282 other stocks in this industry. ABST outperforms 85% 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.
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.
Looking at the yearly performance, ABST did better than 93% of all other stocks. However, this relatively good performance is mostly due to a recent big 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 has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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
7.63
12.20
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.
We can see 2 important resistance 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.
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. |
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)
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.
11.49
-0.01 (-0.09%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-0.09%
1 Week0.09%
2 Weeks0.17%
1 Month1.23%
3 Month47.69%
6 Month-2.3%
12 Month24.22%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.03
ATR(20)%0.34%
ATR Inc-37.78%
Range Today0.01
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.37
Mansfield-0.16
10 Day High11.5
10 Day Low11.47
20 Day High11.5
20 Day Low11.29
52 Week High12.59
52 Week Low7.39
CS1 End11.48
CR1 Start11.65
Volume & EV
DER(3)3.72%
DER(5)2.55%
Volume704.00K
Volume Incr-44.13%
Vol(5)777.32K
Vol(50)1.22M