PROGRESS SOFTWARE CORP (PRGS) Stock Technical Analysis
NASDAQ:PRGS • US7433121008
Overall PRGS gets a technical rating of 2 out of 10. In the past year, PRGS was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
- 80% of all other stocks performed better in the past year than PRGS.
- PRGS is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month PRGS has a been trading in the 34.57 - 44.53 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- PRGS is an average performer in the Software industry, it outperforms 69% of 274 stocks in the same industry.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
The technical rating of PRGS is bad and it also does not present a quality setup 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.
More info and screens
41.00
When analyzing the support we notice one important area.
- A support zone ranging from 41.41 to 42.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 42.31 to 43.60. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 44.81 to 45.10. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @46.88 from a horizontal line in the daily time frame.
- Resistance @57.30 from a trend line in the weekly time frame.
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 PRGS is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PRGS is up. |
| ChartMill Relative Strength | 20.5 | NEGATIVE | PRGS has a low relative strength, it was outperformed by 79.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PRGS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of PRGS is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PRGS is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.66 | NEUTRAL | The RSI value for PRGS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.41 | POSITIVE | The MACD value suggests PRGS has a positive trend. |
| Stochastics (14,3) | 68.14 | NEUTRAL | The Stochastics value for PRGS is a neutral value. |
| Average True Range in percent/ATR (20) | 5.55 | HIGH VOLATILITY | The high ATR as a percentage value for PRGS suggests high volalility. |
| Average Directional Index/ADX (14) | 16.84 | NEGATIVE | The low ADX value for PRGS suggests a weak or negative trend. |
42.09
+1.08 (+2.63%)
PROGRESS SOFTWARE CORP / PRGS FAQ
What is the ChartMill technical rating of PROGRESS SOFTWARE CORP (PRGS) stock?
ChartMill assigns a technical rating of 2 / 10 to PRGS.
What is the current trend direction of PROGRESS SOFTWARE CORP (PRGS) stock?
The current trend direction for PROGRESS SOFTWARE CORP (PRGS) is Bearish.
Can you provide the RSI signal for PROGRESS SOFTWARE CORP?
PROGRESS SOFTWARE CORP (PRGS) has an RSI value of 55.6552. This indicates that the stock is currently neutral.
Can you provide the MACD signal for PROGRESS SOFTWARE CORP?
The MACD indicator for PROGRESS SOFTWARE CORP (PRGS) has a value of 0.406492, indicating a bearish trend.
What is the short term momentum for PRGS stock?
The short term momentum for PROGRESS SOFTWARE CORP (PRGS) is positive.