Convergeone Holdings Inc. (CVON) Stock Technical Analysis
NASDAQ:CVON - Nasdaq -
We assign a technical rating of 6 out of 10 to CVON. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, CVON is a bad performer.
100% of all other stocks performed better in the past year than CVON.
Both the short term and long term trends are positive. This is a very positive sign.
CVON is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so CVON is leading the market.
CVON 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.
In the last month CVON has a been trading in a tight range between 12.28 and 12.55.
Although the technical rating is only medium, CVON does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 12.41, 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
9.26
12.76
We found 2 important support areas.
- A support zone ranging from 12.30 to 12.41. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.35 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 12.61 to 12.63. 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 CVON is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVON is up. |
| ChartMill Relative Strength | 0 | NEGATIVE | CVON has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CVON is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVON is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVON is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.05 | NEUTRAL | The RSI value for CVON is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests CVON has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 63.53 | NEUTRAL | The Stochastics value for CVON is a neutral value. |
| Average True Range in percent/ATR (20) | 0.71 | LOW VOLATILITY | The low ATR as a percentage value for CVON suggests low 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 |
|---|---|---|---|
| 12.64 | 12.29 | 0.35 (2.77%) | 25.00% |
| An entry @12.64. This is a Buy Stop order right above the resistance zone. | An exit @12.29. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.35 points, which is 2.77%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.69%. |
- 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.
12.44
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0%
1 Week0.81%
2 Weeks0.48%
1 Month-0.16%
3 Month37.92%
6 Month31.09%
12 Month0%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.1
ATR(20)%0.71%
ATR Inc41.74%
Range Today0.12
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
CRS0
Mansfield-30
10 Day High12.47
10 Day Low12.28
20 Day High12.55
20 Day Low12.28
52 Week High12.75
52 Week Low8.01
CS1 End12.41
CR1 Start12.61
Volume & EV
DER(3)-3.59%
DER(5)-2.08%
Volume160.00K
Volume Incr90.68%
Vol(5)397.80K
Vol(50)289.60K