PARSONS CORP (PSN) Stock Technical Analysis
NYSE:PSN - New York Stock Exchange, Inc. - US70202L1026 - Common Stock - Currency: USD
Overall PSN gets a technical rating of 4 out of 10. PSN has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
Although the technical rating is only medium, PSN does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 69.24. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 64.89, a Stop Loss order could be placed below this zone.
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57.64
3 important support areas can be observed.
- Support @64.89 from a trend line in the daily time frame.
- Support @61.02 from a horizontal line in the daily time frame.
- A support zone ranging from 58.22 to 59.06. This zone is formed by a combination of multiple trend lines in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 69.24 to 70.38. 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 | DOWN | NEGATIVE | The long term trend for PSN is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PSN is up. |
| ChartMill Relative Strength | 49.65 | NEUTRAL | PSN is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of PSN is above a declining 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) | 52.37 | NEUTRAL | The RSI value for PSN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests PSN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.61 | NEUTRAL | The Stochastics value for PSN is a neutral value. |
| Average True Range in percent/ATR (20) | 3.3 | MEDIUM VOLATILITY | The ATR as a percentage value for PSN suggests some volalility. |
| Average Directional Index/ADX (14) | 19.03 | NEGATIVE | The low ADX value for PSN suggests a weak or negative trend. |
68.19
-1.02 (-1.47%)