GLOB Technical Analysis - GLOBANT SA

Technical Rating and Analysis

Overall GLOB gets a technical rating of 1 out of 10. GLOB's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, GLOB is a bad performer in the overall market: 98% of all stocks are doing better.

GLOB is part of the IT Services industry. There are 86 other stocks in this industry, of which 80% are performing better than GLOB.

GLOB is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

GLOB has an average volume of 1732040 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month GLOB has a been trading in the 54.36 - 62.26 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

GLOB has a bad technical rating, but it does show 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 60.24. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

55.03

77.85

We found 2 important support areas.

A support zone ranging from 58.89 to 58.99. 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 55.59 to 56.10. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 60.24 to 60.24. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @77.08 from a trend line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The long term trend for GLOB is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for GLOB is down.
ChartMill Relative Strength	2.62	NEGATIVE	GLOB has a low relative strength, it was outperformed by 97.38% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of GLOB is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of GLOB is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of GLOB is below a declining SMA(200).
Relative Strength Index/RSI (14)	46.16	NEUTRAL	The RSI value for GLOB is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.9	POSITIVE	The MACD value suggests GLOB has a positive trend, although the MACD value is declining.
Stochastics (14,3)	55.14	NEUTRAL	The Stochastics value for GLOB is a neutral value.
Average True Range in percent/ATR (20)	4.29	MEDIUM VOLATILITY	The ATR as a percentage value for GLOB suggests some volalility.
Average Directional Index/ADX (14)	25.66	POSITIVE	The high ADX value value for GLOB suggests a strong trend.