COVISINT CORP (COVS) Stock Technical Analysis
NASDAQ:COVS - Nasdaq - US22357R1032
Overall COVS gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, COVS is only an average performer.
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! However, this is in line with the S&P500, which is also trading near new highs.
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 relatively good performance is mostly due to a recent big move.
In the last month COVS has a been trading in a tight range between 2.40 and 2.50.
Besides having an excellent technical rating, COVS 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
1.92
2.48
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.
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. |
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)
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 worst case loss on the trade is limited to 0.04 points, which is 1.62%. | For a 0.40% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
NASDAQ:COVS (7/26/2017, 8:26:25 PM)
2.45
+0.05 (+2.08%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg2.08%
1 Week0%
2 Weeks1.03%
1 Month0%
3 Month22.5%
6 Month22.5%
12 Month11.87%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.06
ATR(20)%2.2%
ATR Inc41.89%
Range Today0.1
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
CRS79.61
Mansfield0.61
10 Day High2.5
10 Day Low2.4
20 Day High2.5
20 Day Low2.4
52 Week High2.5
52 Week Low1.71
CS1 End2.44
CR1 Start2.45
Volume & EV
DER(3)2.55%
DER(5)-25.67%
Volume187.10K
Volume Incr452.98%
Vol(5)629.62K
Vol(50)412.93K