PARSONS CORP (PSN) Stock Technical Analysis
NYSE:PSN - New York Stock Exchange, Inc. - US70202L1026 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to PSN. Although PSN is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
When comparing the yearly performance of all stocks, PSN is a bad performer in the overall market: 71% of all stocks are doing better.
Both the short term and long term trends are positive. This is a very positive sign.
PSN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
PSN has an average volume of 1225820 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 61% 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.
Besides having an excellent technical rating, PSN also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
58.83
77.36
We found 4 important support areas.
- Support @73.72 from a horizontal line in the weekly time frame.
- Support @69.01 from a trend line in the daily time frame.
- Support @66.37 from a horizontal line in the daily time frame.
- Support @59.42 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 74.64 to 76.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | 29.62 | NEGATIVE | PSN has a low relative strength, it was outperformed by 70.38% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of PSN is below 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 | NEGATIVE | The current price of PSN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.75 | NEUTRAL | The RSI value for PSN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.41 | NEGATIVE | The MACD value suggests PSN has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 33.31 | NEUTRAL | The Stochastics value for PSN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.45 | MEDIUM VOLATILITY | The ATR as a percentage value for PSN suggests some volalility. |
| Average Directional Index/ADX (14) | 23.34 | NEUTRAL | The ADX value for PSN suggests a possible start of a new 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 76.60 | 73.71 | 2.89 (3.77%) | 25.00% |
| An entry @76.60. This is a Buy Stop order right above the resistance zone. | An exit @73.71. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.89 points, which is 3.77%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.94%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
74.6
+0.88 (+1.19%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryProfessional Services
Performance
% Chg1.19%
1 Week-0.86%
2 Weeks-0.13%
1 Month0.35%
3 Month16.4%
6 Month-3%
12 Month-19.63%
2 Year30.83%
3 Year80.28%
5 Year124.29%
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.73
ATR(20)%2.45%
ATR Inc-20.19%
Range Today1
ADR(20)1.78
ADR(20)%2.38%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS29.62
Mansfield-1.57
10 Day High76.97
10 Day Low72.34
20 Day High77.98
20 Day Low72.34
52 Week High114.68
52 Week Low54.56
CS1 End73.72
CR1 Start74.64
Volume & EV
DER(3)1.2%
DER(5)1.13%
Volume1.15M
Volume Incr-20.64%
Vol(5)808.34K
Vol(50)1.23M