COVISINT CORP (COVS) Technical Analysis
NASDAQ:COVS • US22357R1032
Current stock price
COVS Technical Rating and Analysis
Overall COVS gets a technical rating of 7 out of 10. Although COVS 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.
- A new 52 week high is currently being made by COVS, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so COVS is leading the market.
- COVS is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- Looking at the yearly performance, COVS did better than 79% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
- In the last month COVS has a been trading in a tight range between 2.40 and 2.50.
COVS Weekly and Daily overview Charts
COVS Setup Rating and Analysis
COVS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.44, a Stop Loss order could be placed below this zone.
More info and screens
COVS Support and Resistance Analysis
1.92
4 important support areas can be observed.
- A support zone ranging from 2.44 to 2.44. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.39 from a horizontal line in the daily time frame.
- Support @2.20 from a trend line in the daily time frame.
- Support @1.94 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 2.45 to 2.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
COVS 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 COVS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for COVS is up. |
| ChartMill Relative Strength | 79.61 | POSITIVE | COVS has a high relative strength, it outperformed 79.61% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of COVS is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of COVS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of COVS is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.77 | NEUTRAL | The RSI value for COVS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests COVS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 25 | NEUTRAL | The Stochastics value for COVS is a neutral value. |
| Average True Range in percent/ATR (20) | 2.2 | MEDIUM VOLATILITY | The ATR as a percentage value for COVS suggests some volalility. |
COVS Chart- and CandleStick Pattern Analysis
COVS 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 |
|---|---|---|---|
| 2.47 | 2.43 | 0.04 (1.62%) | 25.00% |
| An entry @2.47. This is a Buy Stop order right above the resistance zone. | An exit @2.43. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.04 points, which is 1.62%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.40%. |
- The distance between exit and entry is rather small compared to the average daily movement of COVS. Please evaluate whether better entry and exit points can be found.
- 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.
COVS Technicals: Chart, Performance Metrics, Trend & Indicators
NASDAQ:COVS (7/26/2017, 8:26:25 PM)
2.45
+0.05 (+2.08%)
COVISINT CORP / COVS TA FAQ
What is the ChartMill technical rating of COVISINT CORP (COVS) stock?
ChartMill assigns a technical rating of 7 / 10 to COVS.
What is the trend direction for COVS stock?
The current trend direction for COVISINT CORP (COVS) is Bullish.
Can you provide the RSI signal for COVISINT CORP?
COVISINT CORP (COVS) has an RSI value of 58.7697. This indicates that the stock is currently neutral.
What is the short term momentum for COVISINT CORP (COVS) stock?
The short term momentum for COVISINT CORP (COVS) is positive.
Can you provide the support and resistance levels for COVISINT CORP?
COVISINT CORP (COVS) has a support level at 2.44 and a resistance level at 2.45. Check the full technical report for our detailed analysis of COVS support and resistance levels.