ABRDN INCOME CREDIT STRAT (ACP) Stock Technical Analysis
NYSE:ACP - New York Stock Exchange, Inc. - US0030571063 - Currency: USD
Taking everything into account, ACP scores 5 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. ACP was also a bad performer in the overall market in the last year.
Although the technical rating is only medium, ACP does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 5.96. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 5.93, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
5.67
When analyzing the support we can see 2 important areas.
- A support zone ranging from 5.84 to 5.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @5.73 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 5.96 to 6.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @6.62 from a trend line in the weekly time frame.
- Resistance @7.06 from a horizontal line in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for ACP is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ACP is up. |
| ChartMill Relative Strength | 23.94 | NEGATIVE | ACP has a low relative strength, it was outperformed by 76.06% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ACP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ACP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ACP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60.04 | NEUTRAL | The RSI value for ACP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests ACP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 93.28 | OVERBOUGHT | The high Stochastics value suggests ACP may be overbought. |
| Average True Range in percent/ATR (20) | 0.84 | LOW VOLATILITY | The low ATR as a percentage value for ACP suggests low volalility. |
| Average Directional Index/ADX (14) | 22.05 | NEUTRAL | The ADX value for ACP suggests a possible start of a new trend. |
5.95
-0.02 (-0.34%)