PSN Technical Analysis - PARSONS CORP

Technical Rating and Analysis

Taking everything into account, PSN scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, PSN is a bad performer.

63% of all other stocks performed better in the past year than PSN.

Both the short term and long term trends are positive. This is a very positive sign.

In the last month PSN has a been trading in the 73.50 - 89.27 range, which is quite wide. It is currently trading near the high of this range.

PSN has an average volume of 1054760 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

PSN is part of the Professional Services industry. There are 82 other stocks in this industry, PSN did better than 69% of them.

PSN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PSN is lagging the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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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 PSN has an excellent technical rating, it does not offer a high 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

72.62

89.22

When analyzing the support we can see 5 important areas.

A support zone ranging from 82.41 to 83.52. 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 78.98 to 80.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @77.27 from a trend line in the daily time frame.
Support @75.65 from a horizontal line in the weekly time frame.
Support @73.35 from a horizontal line in the daily time frame.

We found 1 important resistance area.

A resistance zone ranging from 88.34 to 88.34. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	UP	POSITIVE	The long term trend for PSN is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for PSN is up.
ChartMill Relative Strength	37.86	NEUTRAL	PSN is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of PSN is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of PSN is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of PSN is above a declining SMA(200).
Relative Strength Index/RSI (14)	72.2	OVERBOUGHT	The high RSI value suggests PSN may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.86	POSITIVE	The MACD value suggests PSN has a positive trend.
Stochastics (14,3)	94.3	OVERBOUGHT	The high Stochastics value suggests PSN may be overbought.
Average True Range in percent/ATR (20)	2.54	MEDIUM VOLATILITY	The ATR as a percentage value for PSN suggests some volalility.
Average Directional Index/ADX (14)	29.37	POSITIVE	The high ADX value value for PSN suggests a strong trend.