CONCORD ACQUISITION CORP (CND.U) Stock Technical Analysis
NYSE:CND.U • US2060712013
We assign a technical rating of 2 out of 10 to CND.U. Although CND.U is scoring some points because its good overall performance in the market in the past year, 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.
- CND.U 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.
- Warning: CND.U has an average volume of 1184 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- Looking at the yearly performance, CND.U did better than 74% of all other stocks. However, we also see that CND.U couldn't keep up this performance in the last couple of months.
- In the last month CND.U has a been trading in a tight range between 10.10 and 10.52.
- Volume is considerably higher in the last couple of days.
The technical rating of CND.U is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
9.74
When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.10 to 10.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 9.84 to 9.85. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 10.22 to 10.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 10.76 to 10.84. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 11.10 to 11.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @11.46 from a horizontal line 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 CND.U is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CND.U is down. |
| ChartMill Relative Strength | 74.05 | POSITIVE | CND.U has a high relative strength, it outperformed 74.05% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CND.U is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CND.U is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CND.U is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 37.81 | NEUTRAL | The RSI value for CND.U is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests CND.U has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 1.54 | OVERSOLD | The low Stochastics value suggests CND.U may be oversold. |
| Average True Range in percent/ATR (20) | 0.53 | LOW VOLATILITY | The low ATR as a percentage value for CND.U suggests low volalility. |
| Average Directional Index/ADX (14) | 21.14 | NEUTRAL | The ADX value for CND.U suggests a possible start of a new trend. |
NYSE:CND.U (12/7/2022, 7:30:57 PM)
10.17
+0.01 (+0.1%)
CONCORD ACQUISITION CORP / CND.U FAQ
Can you provide the ChartMill technical rating for CONCORD ACQUISITION CORP?
ChartMill assigns a technical rating of 2 / 10 to CND.U.
What is the current trend direction of CONCORD ACQUISITION CORP (CND.U) stock?
The current trend direction for CONCORD ACQUISITION CORP (CND.U) is Bearish.
What is the RSI signal for CONCORD ACQUISITION CORP (CND.U) stock?
CONCORD ACQUISITION CORP (CND.U) has an RSI value of 37.8094. This indicates that the stock is currently neutral.
What is the buy/sell signal for CND.U stock?
The buy/sell signal for CONCORD ACQUISITION CORP (CND.U) is sell as both the short term and long term trends are negative.
What are the support and resistance levels for CONCORD ACQUISITION CORP (CND.U) stock?
CONCORD ACQUISITION CORP (CND.U) has a support level at 10.16 and a resistance level at 10.22. Check the full technical report for our detailed analysis of CND.U support and resistance levels.