FORAFRIC GLOBAL PLC (AFRI) Stock Technical Analysis
NASDAQ:AFRI - Nasdaq - GI000A3DNK69 - Common Stock - Currency: USD
Taking everything into account, AFRI scores 2 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. AFRI was also a bad performer in the overall market in the last year.
Although the technical rating is bad, AFRI does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 7.84. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.79, a Stop Loss order could be placed below this zone.
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7.63
When analyzing the support we notice one important area.
- A support zone ranging from 7.71 to 7.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 7.84 to 7.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @8.76 from a horizontal line in the daily time frame.
- Resistance @11.59 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 | DOWN | NEGATIVE | The long term trend for AFRI is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for AFRI is neutral. |
| ChartMill Relative Strength | 9.84 | NEGATIVE | AFRI has a low relative strength, it was outperformed by 90.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of AFRI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of AFRI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of AFRI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.57 | NEUTRAL | The RSI value for AFRI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests AFRI has a positive trend. |
| Stochastics (14,3) | 42.26 | NEUTRAL | The Stochastics value for AFRI is a neutral value. |
| Average True Range in percent/ATR (20) | 1.84 | LOW VOLATILITY | The low ATR as a percentage value for AFRI suggests low volalility. |
| Average Directional Index/ADX (14) | 13.26 | NEGATIVE | The low ADX value for AFRI suggests a weak or negative trend. |
7.8
+0.06 (+0.78%)