ABOVE FOOD INGREDIENTS INC (ABVE) Stock Technical Analysis
NASDAQ:ABVE • CA00373V1004
Taking everything into account, ABVE scores 3 out of 10 in our technical rating. Although ABVE is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- ABVE is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month ABVE has a been trading in the 1.56 - 2.65 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.
- Looking at the yearly performance, ABVE did better than 95% of all other stocks.
- ABVE is part of the Food Products industry. There are 87 other stocks in this industry. ABVE outperforms 96% of them.
- ABVE has an average volume of 1760680 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
ABVE has a poor technical rating and the quality of the setup is also only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
1.55
When analyzing the support we notice one important area.
- A support zone ranging from 1.57 to 1.57. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 2.04 to 2.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.39 from a trend line in the daily time frame.
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 | DOWN | NEGATIVE | The long term trend for ABVE is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ABVE is down. |
| ChartMill Relative Strength | 95.9 | POSITIVE | ABVE has a high relative strength, it outperformed 95.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ABVE is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of ABVE is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ABVE is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 40.59 | NEUTRAL | The RSI value for ABVE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests ABVE has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 3.79 | OVERSOLD | The low Stochastics value suggests ABVE may be oversold. |
| Average True Range in percent/ATR (20) | 15.63 | HIGH VOLATILITY | The high ATR as a percentage value for ABVE suggests high volalility. |
| Average Directional Index/ADX (14) | 15.21 | NEGATIVE | The low ADX value for ABVE suggests a weak or negative trend. |
1.63
+0.06 (+3.82%)
ABOVE FOOD INGREDIENTS INC / ABVE FAQ
What is the technical rating for ABVE stock?
ChartMill assigns a technical rating of 3 / 10 to ABVE.
What is the trend direction for ABVE stock?
The current trend direction for ABOVE FOOD INGREDIENTS INC (ABVE) is Bearish.
What is the RSI signal for ABVE stock?
ABOVE FOOD INGREDIENTS INC (ABVE) has an RSI value of 40.5904. This indicates that the stock is currently neutral.
Can you provide the short term momentum for ABOVE FOOD INGREDIENTS INC?
The short term momentum for ABOVE FOOD INGREDIENTS INC (ABVE) is negative.
What are the support and resistance levels for ABOVE FOOD INGREDIENTS INC (ABVE) stock?
ABOVE FOOD INGREDIENTS INC (ABVE) has a support level at 1.57 and a resistance level at 2.04. Check the full technical report for our detailed analysis of ABVE support and resistance levels.