Spansion Inc (CODE) Stock Technical Analysis
NYSE:CODE - New York Stock Exchange, Inc. - US84649R2004
We assign a technical rating of 10 out of 10 to CODE. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CODE is showing a nice and steady performance.
CODE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 37.51, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
33.97
We found 2 important support areas.
- A support zone ranging from 36.80 to 37.51. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 34.31 to 34.58. This zone is formed by a combination of multiple trend lines and important moving averages 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 | UP | POSITIVE | The long term trend for CODE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CODE is up. |
| ChartMill Relative Strength | 96.85 | POSITIVE | CODE has a high relative strength, it outperformed 96.85% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CODE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CODE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CODE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.34 | NEUTRAL | The RSI value for CODE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.09 | POSITIVE | The MACD value suggests CODE has a positive trend. |
| Average True Range in percent/ATR (20) | 2.58 | MEDIUM VOLATILITY | The ATR as a percentage value for CODE suggests some volalility. |
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.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 38.63 | 36.79 | 1.84 (4.76%) | 20.99% |
| An entry @38.63. This is a Buy Stop order right above the 10 day high. | An exit @36.79. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.84 points, which is 4.76%. | For a 1.00% total portfolio risk, you can invest 20.99% of your capital in this trade. |
- 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.
38.59
+0.47 (+1.23%)