GLOB Technical Analysis - GLOBANT SA

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to GLOB. GLOB scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

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 84% 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.

In the last month GLOB has a been trading in the 54.36 - 72.00 range, which is quite wide. It is currently trading near the lows of this range.

GLOB has an average volume of 1654560 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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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 poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

56.68

82.58

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 58.24 to 59.16. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @66.75 from a trend line in the weekly time frame.
Resistance @81.76 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	2.39	NEGATIVE	GLOB has a low relative strength, it was outperformed by 97.61% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of GLOB is below a declining 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)	30.63	NEUTRAL	The RSI value for GLOB is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.12	POSITIVE	The MACD value suggests GLOB has a positive trend.
Stochastics (14,3)	17.45	OVERSOLD	The low Stochastics value suggests GLOB may be oversold.
Average True Range in percent/ATR (20)	4.24	MEDIUM VOLATILITY	The ATR as a percentage value for GLOB suggests some volalility.
Average Directional Index/ADX (14)	42.89	POSITIVE	The high ADX value value for GLOB suggests a strong trend.