PROGRESS SOFTWARE CORP (PRGS) Stock Technical Analysis
NASDAQ:PRGS - Nasdaq - US7433121008 - Common Stock - Currency: USD
We assign a technical rating of 1 out of 10 to PRGS. PRGS scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
When comparing the yearly performance of all stocks, PRGS is a bad performer in the overall market: 79% of all stocks are doing better.
PRGS is part of the Software industry. There are 282 other stocks in this industry, of which 69% are performing better 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 53.57 - 65.50 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
The technical rating of PRGS is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
51.73
67.05
We found 1 important support area.
- Support @52.25 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 61.70 to 64.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @66.39 from a horizontal line in the daily 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 | NEUTRAL | NEUTRAL | The long term trend for PRGS is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for PRGS is neutral. |
| ChartMill Relative Strength | 21.35 | NEGATIVE | PRGS has a low relative strength, it was outperformed by 78.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of PRGS is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of PRGS is below 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) | 23.02 | OVERSOLD | The low RSI value suggests PRGS may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.02 | NEGATIVE | The MACD value suggests PRGS has a negative trend. |
| Stochastics (14,3) | 19.85 | OVERSOLD | The low Stochastics value suggests PRGS may be oversold. |
| Average True Range in percent/ATR (20) | 3.1 | MEDIUM VOLATILITY | The ATR as a percentage value for PRGS suggests some volalility. |
| Average Directional Index/ADX (14) | 19.93 | NEGATIVE | The low ADX value for PRGS suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
53.9
-1.62 (-2.92%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-2.92%
1 Week-15.21%
2 Weeks-15.08%
1 Month-14.49%
3 Month-4.04%
6 Month-17.41%
12 Month-2.14%
2 Year-10.26%
3 Year14.78%
5 Year54.62%
10 Year81.6%
15 Year170.4%
Volatility
ATR(14)1.98
ATR(20)%3.1%
ATR Inc341.97%
Range Today3.01
ADR(20)1.51
ADR(20)%2.81%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS21.35
Mansfield-1.73
10 Day High65.5
10 Day Low53.57
20 Day High65.5
20 Day Low53.57
52 Week High70.56
52 Week Low50.68
CS1 End63.72
CR1 Start64.19
Volume & EV
DER(3)-3.4%
DER(5)-2.51%
Volume2.24M
Volume Incr456.2%
Vol(5)2.26M
Vol(50)626.31K