KARO Technical Analysis - KAROOOOO LTD

Technical Rating and Analysis

Overall KARO gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, KARO is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

Looking at the yearly performance, KARO did better than 88% of all other stocks.

KARO is part of the Software industry. There are 281 other stocks in this industry. KARO outperforms 78% of them.

KARO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so KARO is lagging the market slightly.

In the last month KARO has a been trading in the 51.66 - 60.53 range, which is quite wide. It is currently trading near the high of this range.

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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

Although KARO has an excellent technical rating, it does not present a decent entry opportunity 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

37.91

58.36

4 important support areas can be observed.

A support zone ranging from 55.12 to 55.44. 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 48.48 to 48.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 44.01 to 44.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @38.29 from a horizontal line in the weekly time frame.

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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	UP	POSITIVE	The long term trend for KARO is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for KARO is up.
ChartMill Relative Strength	88.65	POSITIVE	KARO has a high relative strength, it outperformed 88.65% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of KARO is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of KARO is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of KARO is above the rising SMA(200).
Relative Strength Index/RSI (14)	79.55	OVERBOUGHT	The high RSI value suggests KARO may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.18	POSITIVE	The MACD value suggests KARO has a positive trend.
Stochastics (14,3)	89.32	OVERBOUGHT	The high Stochastics value suggests KARO may be overbought.
Average True Range in percent/ATR (20)	2.6	MEDIUM VOLATILITY	The ATR as a percentage value for KARO suggests some volalility.
Average Directional Index/ADX (14)	43.98	POSITIVE	The high ADX value value for KARO suggests a strong trend.