RGP Technical Analysis - RESOURCES CONNECTION INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to RGP. RGP's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

95% of all other stocks performed better in the past year than RGP.

RGP is part of the Professional Services industry. There are 82 other stocks in this industry, of which 75% are performing better than RGP.

RGP is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month RGP has a been trading in the 4.23 - 5.54 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.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

RESOURCES CONNECTION INC / RGP Weekly stock chart

RESOURCES CONNECTION INC / RGP Daily stock chart

Setup Rating and Analysis

The technical rating of RGP 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

4.20

5.33

When analyzing the support we notice one important area.

A support zone ranging from 4.24 to 4.26. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 4 important resistance areas.

Resistance @4.84 from a trend line in the weekly time frame.
A resistance zone ranging from 4.92 to 5.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @5.10 from a trend line in the daily time frame.
Resistance @5.28 from a trend line in the daily time frame.

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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	DOWN	NEGATIVE	The long term trend for RGP is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for RGP is down.
ChartMill Relative Strength	5.79	NEGATIVE	RGP has a low relative strength, it was outperformed by 94.21% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of RGP is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of RGP is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of RGP is below a declining SMA(200).
Relative Strength Index/RSI (14)	27.33	OVERSOLD	The low RSI value suggests RGP may be oversold.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.09	NEGATIVE	The MACD value suggests RGP has a negative trend.
Stochastics (14,3)	4.41	OVERSOLD	The low Stochastics value suggests RGP may be oversold.
Average True Range in percent/ATR (20)	5.74	HIGH VOLATILITY	The high ATR as a percentage value for RGP suggests high volalility.
Average Directional Index/ADX (14)	16.57	NEGATIVE	The low ADX value for RGP suggests a weak or negative trend.