ABRDN GLOBAL INCOME FUND INC (FCO) Stock Technical Analysis
NYSEARCA:FCO - US0030131090
6.7 USD
+0.05 (+0.75%)
6.67 USD
-0.03 (-0.45%)
Taking everything into account, FCO scores 7 out of 10 in our technical rating. Although FCO 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.
FCO 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.
When comparing the performance of all stocks over the past year, FCO turns out to be only a medium performer in the overall market: it outperformed 69% of all stocks.
In the last month FCO has a been trading in a tight range between 6.51 and 6.73.
Considerably lower volume is observed in the last couple of days.
FCO has an excellent technical rating and 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 6.71. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 6.68, a Stop Loss order could be placed below this zone.
More info and screens
5.68
6.81
When analyzing the support we can see 5 important areas.
- A support zone ranging from 6.65 to 6.68. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @6.33 from a horizontal line in the daily time frame.
- A support zone ranging from 6.17 to 6.18. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 5.95 to 6.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 5.74 to 5.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 6.71 to 6.74. 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 FCO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FCO is up. |
| ChartMill Relative Strength | 69.62 | NEUTRAL | FCO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FCO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FCO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FCO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.42 | NEUTRAL | The RSI value for FCO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests FCO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 56.77 | NEUTRAL | The Stochastics value for FCO is a neutral value. |
| Average True Range in percent/ATR (20) | 1.08 | LOW VOLATILITY | The low ATR as a percentage value for FCO suggests low volalility. |
| Average Directional Index/ADX (14) | 12.21 | NEGATIVE | The low ADX value for FCO suggests a weak or negative 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 |
|---|---|---|---|
| 6.75 | 6.64 | 0.11 (1.63%) | 25.00% |
| An entry @6.75. This is a Buy Stop order right above the resistance zone. | An exit @6.64. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.11 points, which is 1.63%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.41%. |
- 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.
6.7
+0.05 (+0.75%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.75%
1 Week0.15%
2 Weeks0.6%
1 Month3.08%
3 Month7.37%
6 Month11.67%
12 Month15.92%
2 Year8.94%
3 Year31.37%
5 Year-2.62%
10 Year-14.1%
15 Year-44.35%
Volatility
ATR(14)0.06
ATR(20)%1.08%
ATR Inc-6.15%
Range Today0.06
ADR(20)0.07
ADR(20)%1.01%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS69.62
Mansfield0
10 Day High6.73
10 Day Low6.6
20 Day High6.73
20 Day Low6.51
52 Week High6.73
52 Week Low5.3
CS1 End6.68
CR1 Start6.71
Volume & EV
DER(3)-1.23%
DER(5)0.63%
Volume59.30K
Volume Incr-38.28%
Vol(5)41.96K
Vol(50)65.95K