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AVID TECHNOLOGY INC (AVID) Stock Technical Analysis

NASDAQ:AVID - Nasdaq - US05367P1003 - Common Stock - Currency: USD

27.04  0 (0%)

After market: 27.06 +0.02 (+0.07%)

Technical Rating and Analysis

7

Overall AVID gets a technical rating of 7 out of 10. Although AVID is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

Both the short term and long term trends are positive. This is a very positive sign.
When compared to the yearly performance of all other stocks, AVID outperforms 53% of them, which is more or less in line with the market.
AVID is part of the Technology Hardware, Storage & Peripherals industry. There are 32 other stocks in this industry, AVID did better than 54% of them.
AVID is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so AVID is lagging the market.
In the last month AVID has a been trading in a tight range between 26.85 and 27.05.
Weekly and Daily overview Charts
AVID TECHNOLOGY INC / AVID Weekly stock chart
AVID TECHNOLOGY INC / AVID Daily stock chart
Setup Rating and Analysis

7

AVID has an excellent technical rating and also presents a decent setup pattern. 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 27.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 27.00, a Stop Loss order could be placed below this zone.

Support and Resistance Analysis

22.85

31.10

We found 2 important support areas.

  • A support zone ranging from 26.75 to 27.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 23.08 to 23.32. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 2 important areas.

  • A resistance zone ranging from 27.05 to 27.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @30.79 from a trend line in the weekly time frame.
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.

IndicatorValueSignalComment
ChartMill Long Term Trend IndicatorUPPOSITIVEThe long term trend for AVID is up.
ChartMill Short Term Trend IndicatorUPPOSITIVEThe short term trend for AVID is up.
ChartMill Relative Strength53.32NEUTRALAVID is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)UPPOSITIVEThe current price of AVID is above the rising SMA(20).
Simple Moving Average/SMA (50)UPPOSITIVEThe current price of AVID is above the rising SMA(50).
Simple Moving Average/SMA (200)DOWNNEGATIVEThe current price of AVID is below a declining SMA(200).
Relative Strength Index/RSI (14)68.35NEUTRALThe RSI value for AVID is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)0NEGATIVEThe MACD value suggests AVID has a negative trend, although the MACD value is rising.
Stochastics (14,3)85.42OVERBOUGHTThe high Stochastics value suggests AVID may be overbought.
Average True Range in percent/ATR (20)0.16LOW VOLATILITYThe low ATR as a percentage value for AVID suggests low volalility.
Average Directional Index/ADX (14)47.78POSITIVEThe high ADX value value for AVID suggests a strong trend.
Chart- and CandleStick Pattern Analysis
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)
Example Setup

Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.

ENTRYEXITDISTANCECAPITAL
27.0626.950.11 (0.41%)25.00%
An entry @27.06. This is a Buy Stop order right above the 10 day high.An exit @26.95. This is a Stop Loss order right below the 10 day low.The trade has a worst case loss of 0.11 points, which is 0.41%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.10%.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
AVID TECHNOLOGY INC / AVID Daily stock chart

AVID TECHNOLOGY INC

NASDAQ:AVID (11/6/2023, 8:00:00 PM)

After market: 27.06 +0.02 (+0.07%)

27.04

0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryTechnology Hardware, Storage & Peripherals
Performance
% Chg0%
1 Week0.15%
2 Weeks0.22%
1 Month0.63%
3 Month1.43%
6 Month33.01%
12 Month-2.28%
2 Year-15.66%
3 Year122.55%
5 Year319.88%
10 Year290.19%
15 YearN/A
Volatility
ATR(14)0.04
ATR(20)%0.16%
ATR Inc-18.33%
Range Today0.02
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS53.32
Mansfield-0.49
10 Day High27.05
10 Day Low26.96
20 Day High27.05
20 Day Low26.85
52 Week High33.41
52 Week Low19.78
CS1 End27
CR1 Start27.05
Volume & EV
DER(3)-3.96%
DER(5)-1.98%
Volume628.90K
Volume Incr-1.88%
Vol(5)591.86K
Vol(50)515.69K