ABRDN ASIA-PACIFIC INCOME FU (FAX)       2.865  -0.03 (-1.21%)

2.865  -0.03 (-1.21%)

US0030091070

Technical Rating

8

Taking everything into account, FAX scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, FAX is only an average performer.



Both the short term and long term trends are positive. This is a very positive sign.
FAX 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.
FAX has an average volume of 1071700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, FAX turns out to be only a medium performer in the overall market: it outperformed 52% of all stocks.
FAX is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 10.27% 22.88% 2.84% -20.33% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 52.61 2.26 - 3.74
FAX Weekly chart
FAX Daily chart

Support/Resistance Analysis


2.57

2.95
We found 2 important support areas.
  • A support zone ranging from 2.83 to 2.86. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A support zone ranging from 2.60 to 2.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
  • A resistance zone ranging from 2.87 to 2.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

Setup Analysis

Setup Rating

8

Besides having an excellent technical rating, FAX also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 2.91. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.89, a Stop Loss order could be placed below this zone.


Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
2.932.820.11 (3.75%)25.00%
An entry @2.93. This is a Buy Stop order right above the resistance zone.An exit @2.82. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 0.11 points, which is 3.75%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.94%.

  • 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.
FAX Daily chart

ABRDN ASIA-PACIFIC INCOME FU2.865

NYSEARCA:FAX (2/6/2023, 2:04:00 PM)-0.03 (-1.21%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector N/A
GICS Industry N/A

Performance
Today -1.21% 1 Week N/A
2 Weeks 0.69% 1 Month 10.27%
3 Month 22.88% 6 Month 2.84%

Volatility
ATR(14) 0.06 ATR(20)% 2.39%
ATR Inc -40.08% Range Today 0.06

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 52.61 Mansfield -0.18
10 Day High 2.92 10 Day Low 2.76
20 Day High 2.92 20 Day Low 2.66
52 Week High 3.74 52 Week Low 2.26
CS1 End 2.89 CR1 Start 2.91

Volume & EV
DER(3) 1.61% DER(5) 1.04%
Volume 408.66K Volume Incr -8.93%
Vol(5) 926.18K Vol(50) 1.07M

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