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 5 out of 10 to ASC. Recently some decent action could be observed, but in the medium term time frame this is still negative. ASC was also a bad performer in the overall market in the last year.
Although the technical rating is only medium, ASC does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 10.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.10, a Stop Loss order could be placed below this zone.
More info and screens
9.37
We found 1 important support area.
- A support zone ranging from 9.46 to 10.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 10.49 to 10.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The short term trend for ASC is up. |
| ChartMill Relative Strength | 10.46 | NEGATIVE | ASC has a low relative strength, it was outperformed by 89.54% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ASC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ASC is above the rising 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) | 58.87 | NEUTRAL | The RSI value for ASC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests ASC has a positive trend. |
| Stochastics (14,3) | 65.9 | NEUTRAL | The Stochastics value for ASC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.73 | MEDIUM VOLATILITY | The ATR as a percentage value for ASC suggests some volalility. |
| Average Directional Index/ADX (14) | 14.5 | NEGATIVE | The low ADX value for ASC suggests a weak or negative trend. |
10.48
+0.12 (+1.16%)