ASX Technical Analysis - ASE TECHNOLOGY HOLDING -ADR

Technical Rating and Analysis

We assign a technical rating of 9 out of 10 to ASX. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ASX is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

A new 52 week high is currently being made by ASX, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.

In the last month ASX has a been trading in the 10.93 - 12.84 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

ASX has an average volume of 6951920 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Looking at the yearly performance, ASX did better than 82% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

ASX is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry, ASX did better than 55% of them.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ASE TECHNOLOGY HOLDING -ADR / ASX Weekly stock chart

ASE TECHNOLOGY HOLDING -ADR / ASX Daily stock chart

Setup Rating and Analysis

Although ASX has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

9.29

12.71

We found 4 important support areas.

A support zone ranging from 10.82 to 11.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @10.56 from a trend line in the daily time frame.
Support @10.14 from a horizontal line in the daily time frame.
Support @9.38 from a horizontal line in the daily 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	UP	POSITIVE	The long term trend for ASX is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ASX is up.
ChartMill Relative Strength	82.48	POSITIVE	ASX has a high relative strength, it outperformed 82.48% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ASX is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ASX is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ASX is above the rising SMA(200).
Relative Strength Index/RSI (14)	66.46	NEUTRAL	The RSI value for ASX is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.06	POSITIVE	The MACD value suggests ASX has a positive trend.
Stochastics (14,3)	73.94	NEUTRAL	The Stochastics value for ASX is a neutral value.
Average True Range in percent/ATR (20)	2.88	MEDIUM VOLATILITY	The ATR as a percentage value for ASX suggests some volalility.
Average Directional Index/ADX (14)	20.17	NEUTRAL	The ADX value for ASX suggests a possible start of a new trend.