CRESCENT COVE ACQUISITION-A (COVA) Technical Analysis
NASDAQ:COVA • KYG2554Y1044
Current stock price
COVA Technical Rating and Analysis
We assign a technical rating of 8 out of 10 to COVA. COVA has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
- The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- Looking at the yearly performance, COVA did better than 85% of all other stocks.
- COVA is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so COVA is lagging the market.
- In the last month COVA has a been trading in the 9.40 - 11.32 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
COVA Weekly and Daily overview Charts
COVA Setup Rating and Analysis
Although COVA has an excellent technical rating, the quality of the presented setup is not ideal 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
COVA Support and Resistance Analysis
9.57
When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.03 to 10.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.67 to 9.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
COVA 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 | NEUTRAL | NEUTRAL | The long term trend for COVA is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for COVA is up. |
| ChartMill Relative Strength | 85.04 | POSITIVE | COVA has a high relative strength, it outperformed 85.04% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of COVA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of COVA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of COVA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.02 | NEUTRAL | The RSI value for COVA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests COVA has a positive trend. |
| Stochastics (14,3) | 62.12 | NEUTRAL | The Stochastics value for COVA is a neutral value. |
| Average True Range in percent/ATR (20) | 2.77 | MEDIUM VOLATILITY | The ATR as a percentage value for COVA suggests some volalility. |
| Average Directional Index/ADX (14) | 56.98 | POSITIVE | The high ADX value value for COVA suggests a strong trend. |
COVA Chart- and CandleStick Pattern Analysis
COVA 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.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 11.33 | 10.02 | 1.31 (11.56%) | 8.65% |
| An entry @11.33. This is a Buy Stop order right above the 10 day high. | An exit @10.02. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.31 points, which is 11.56%. | When investing 8.65% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
COVA Technicals: Chart, Performance Metrics, Trend & Indicators
10.55
+0.27 (+2.63%)
CRESCENT COVE ACQUISITION-A / COVA TA FAQ
What is the ChartMill technical rating of CRESCENT COVE ACQUISITION-A (COVA) stock?
ChartMill assigns a technical rating of 7 / 10 to COVA.
What is the current trend direction of CRESCENT COVE ACQUISITION-A (COVA) stock?
The current trend direction for CRESCENT COVE ACQUISITION-A (COVA) is Bearish.
What is the RSI signal for COVA stock?
CRESCENT COVE ACQUISITION-A (COVA) has an RSI value of 63.0182. This indicates that the stock is currently neutral.
What is the MACD signal for COVA stock?
The MACD indicator for CRESCENT COVE ACQUISITION-A (COVA) has a value of 0.0520267, indicating a bearish trend.
What is the short term momentum for COVA stock?
The short term momentum for CRESCENT COVE ACQUISITION-A (COVA) is positive.