We assign a technical rating of 3 out of 10 to PRGS. Recently some decent action could be observed, but in the medium term time frame this is still negative. PRGS was also a bad performer in the overall market in the last year.
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
39.02
When analyzing the support we notice one important area.
- Support @39.41 from a horizontal line in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 43.55 to 44.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @46.11 from a horizontal line in the daily time frame.
- Strong resistance @46.88 from a horizontal line in the daily time frame.
- Resistance @59.47 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 | 16.29 | NEGATIVE | PRGS has a low relative strength, it was outperformed by 83.71% 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) | UP | POSITIVE | The current price of PRGS is above the rising 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) | 57.49 | NEUTRAL | The RSI value for PRGS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.45 | POSITIVE | The MACD value suggests PRGS has a positive trend. |
| Stochastics (14,3) | 92.7 | OVERBOUGHT | The high Stochastics value suggests PRGS may be overbought. |
| Average True Range in percent/ATR (20) | 2.54 | MEDIUM VOLATILITY | The ATR as a percentage value for PRGS suggests some volalility. |
| Average Directional Index/ADX (14) | 20.48 | NEUTRAL | The ADX value for PRGS suggests a possible start of a new trend. |
43.54
+0.21 (+0.48%)
PROGRESS SOFTWARE CORP / PRGS FAQ
What is the ChartMill technical rating of PROGRESS SOFTWARE CORP (PRGS) stock?
ChartMill assigns a technical rating of 3 / 10 to PRGS.
What is the trend direction for 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 57.4926. This indicates that the stock is currently neutral.
What is the buy/sell signal for PRGS stock?
The buy/sell signal for PROGRESS SOFTWARE CORP (PRGS) is hold as the short term and long term trends are mixed.
Can you provide the support and resistance levels for PROGRESS SOFTWARE CORP?
PROGRESS SOFTWARE CORP (PRGS) has a support level at 39.41 and a resistance level at 43.55. Check the full technical report for our detailed analysis of PRGS support and resistance levels.