ARDMORE SHIPPING CORP (ASC) Stock Technical Analysis
NYSE:ASC - New York Stock Exchange, Inc. - MHY0207T1001 - Common Stock - Currency: USD
We assign a technical rating of 0 out of 10 to ASC. ASC scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
91% of all other stocks performed better in the past year than ASC.
ASC is part of the Oil, Gas & Consumable Fuels industry. There are 213 other stocks in this industry, of which 83% are performing better than ASC.
ASC is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
ASC is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
Although the technical rating is bad, ASC 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 9.66. Right above this resistance zone may be a good entry point.
More info and screens
8.42
10.62
When analyzing the support we notice one important area.
- Support @8.50 from a horizontal line in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 9.66 to 9.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 10.07 to 10.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 10.41 to 10.51. This zone is formed by a combination of multiple trend lines 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 ASC is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ASC is neutral. |
| ChartMill Relative Strength | 9.3 | NEGATIVE | ASC has a low relative strength, it was outperformed by 90.7% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ASC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ASC is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ASC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 47.92 | NEUTRAL | The RSI value for ASC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests ASC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 34.14 | NEUTRAL | The Stochastics value for ASC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.1 | MEDIUM VOLATILITY | The ATR as a percentage value for ASC suggests some volalility. |
| Average Directional Index/ADX (14) | 12.36 | NEGATIVE | The low ADX value for ASC suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
9.63
+0.04 (+0.42%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg0.42%
1 Week0.21%
2 Weeks-2.92%
1 Month-1.73%
3 Month-2.63%
6 Month-15.15%
12 Month-53.68%
2 Year-22.02%
3 Year38.16%
5 Year121.89%
10 Year-20.48%
15 YearN/A
Volatility
ATR(14)0.32
ATR(20)%3.1%
ATR Inc-30.7%
Range Today0.2
ADR(20)0.29
ADR(20)%3.05%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS9.3
Mansfield-3.39
10 Day High9.89
10 Day Low9.18
20 Day High10.42
20 Day Low9.18
52 Week High23.16
52 Week Low8.32
CS1 End8.5
CR1 Start9.66
Volume & EV
DER(3)0.93%
DER(5)-0.38%
Volume361.60K
Volume Incr-34.18%
Vol(5)391.84K
Vol(50)578.91K