ABTS Technical Analysis - ABITS GROUP INC

Technical Rating and Analysis

Overall ABTS gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ABTS is only an average performer.

In the last month ABTS has a been trading in the 5.61 - 10.86 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.

The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.

When compared to the yearly performance of all other stocks, ABTS outperforms 60% of them, which is more or less in line with the market.

ABTS is part of the Software industry. There are 282 other stocks in this industry, ABTS did better than 64% of them.

ABTS is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ABTS is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ABITS GROUP INC / ABTS Weekly stock chart

ABITS GROUP INC / ABTS Daily stock chart

Setup Rating and Analysis

Although ABTS has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

3.87

6.13

We found 2 important support areas.

Support @4.07 from a trend line in the daily time frame.
A support zone ranging from 3.91 to 3.97. This zone is formed by a combination of multiple trend lines in multiple time frames.

We found 1 important resistance area.

A resistance zone ranging from 6.05 to 6.07. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	UP	POSITIVE	The long term trend for ABTS is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ABTS is neutral.
ChartMill Relative Strength	60.43	NEUTRAL	ABTS is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of ABTS is below the rising SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of ABTS is below the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of ABTS is above a declining SMA(200).
Relative Strength Index/RSI (14)	39.03	NEUTRAL	The RSI value for ABTS is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.51	NEGATIVE	The MACD value suggests ABTS has a negative trend.
Stochastics (14,3)	8.35	OVERSOLD	The low Stochastics value suggests ABTS may be oversold.
Average True Range in percent/ATR (20)	22.55	HIGH VOLATILITY	The high ATR as a percentage value for ABTS suggests high volalility.
Average Directional Index/ADX (14)	45.33	POSITIVE	The high ADX value value for ABTS suggests a strong trend.