ALECO Technical Analysis - ECOMIAM SA

Technical Rating and Analysis

Taking everything into account, ALECO scores 0 out of 10 in our technical rating. ALECO's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, ALECO is a bad performer in the overall market: 91% of all stocks are doing better.

ALECO is part of the Consumer Staples Distribution & Retail industry. There are 22 other stocks in this industry, of which 66% are performing better than ALECO.

ALECO 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.

Warning: ALECO has an average volume of 1827 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

In the last month ALECO has a been trading in the 2.10 - 2.41 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, ALECO 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 2.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.29, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.21

3.20

7 important resistance areas can be observed.

A resistance zone ranging from 2.28 to 2.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @2.42 from a horizontal line in the daily time frame.
A resistance zone ranging from 2.48 to 2.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @2.65 from a trend line in the weekly time frame.
A resistance zone ranging from 2.86 to 2.87. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 3.06 to 3.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @3.17 from a horizontal line in the weekly time frame.

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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	DOWN	NEGATIVE	The long term trend for ALECO.PA is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for ALECO.PA is down.
ChartMill Relative Strength	9.58	NEGATIVE	ALECO.PA has a low relative strength, it was outperformed by 90.42% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of ALECO.PA is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ALECO.PA is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ALECO.PA is below a declining SMA(200).
Relative Strength Index/RSI (14)	43.57	NEUTRAL	The RSI value for ALECO.PA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	NEGATIVE	The MACD value suggests ALECO.PA has a negative trend, although the MACD value is rising.
Stochastics (14,3)	45.16	NEUTRAL	The Stochastics value for ALECO.PA is a neutral value.
Average True Range in percent/ATR (20)	4.15	MEDIUM VOLATILITY	The ATR as a percentage value for ALECO.PA suggests some volalility.
Average Directional Index/ADX (14)	57.63	POSITIVE	The high ADX value value for ALECO.PA suggests a strong trend.