Converge Technology Solutions Corp (CTS.CA) Stock Technical Analysis
TSX:CTS - Toronto Stock Exchange - CA21250C1068 - Common Stock - Currency: CAD
Overall CTS gets a technical rating of 9 out of 10. Both in the recent history as in the last year, CTS has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
CTS is one of the better performing stocks in the IT Services industry, it outperforms 90% of 12 stocks in the same industry.
CTS is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
CTS 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.
CTS has an average volume of 1697270 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, CTS did better than 90% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
Besides having an excellent technical rating, CTS also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 6.00. Right above this resistance zone may be a good entry point.
More info and screens
3.15
6.12
When analyzing the support we can see 2 important areas.
- A support zone ranging from 5.40 to 5.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @3.18 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 6.00 to 6.06. 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 CTS.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CTS.CA is up. |
| ChartMill Relative Strength | 90.1 | POSITIVE | CTS.CA has a high relative strength, it outperformed 90.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CTS.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CTS.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CTS.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 82.03 | OVERBOUGHT | The high RSI value suggests CTS.CA may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests CTS.CA has a negative trend. |
| Stochastics (14,3) | 82.74 | OVERBOUGHT | The high Stochastics value suggests CTS.CA may be overbought. |
| Average True Range in percent/ATR (20) | 1.22 | LOW VOLATILITY | The low ATR as a percentage value for CTS.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 38.19 | POSITIVE | The high ADX value value for CTS.CA suggests a strong trend. |
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 |
|---|---|---|---|
| 6.07 | 5.85 | 0.22 (3.71%) | 25.00% |
| An entry @6.07. This is a Buy Stop order right above the resistance zone. | An exit @5.85. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.22 points, which is 3.71%. | For a 0.93% total portfolio risk, you can invest 25.00% 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.
Converge Technology Solutions Corp
TSX:CTS (4/23/2025, 7:00:00 PM)
5.99
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg0%
1 Week0%
2 Weeks0.67%
1 Month9.71%
3 Month64.56%
6 Month87.77%
12 Month8.91%
2 Year81.52%
3 Year-30.59%
5 Year375.4%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.06
ATR(20)%1.22%
ATR Inc-81.99%
Range Today0.01
ADR(20)0.04
ADR(20)%0.72%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.1
Mansfield4.28
10 Day High6.01
10 Day Low5.86
20 Day High6.06
20 Day Low5.45
52 Week High6.06
52 Week Low2.9
CS1 End5.45
CR1 Start6
Volume & EV
DER(3)2.55%
DER(5)1.49%
Volume200.18K
Volume Incr-9.63%
Vol(5)1.43M
Vol(50)1.70M