ALGORHYTHM HOLDINGS INC (RIME) Stock Technical Analysis
NASDAQ:RIME - Nasdaq - US8293225020 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to RIME. Recently some decent action could be observed, but in the medium term time frame this is still negative. RIME was also a bad performer in the overall market in the last year.
RIME has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 2.69. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.28, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for RIME in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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.
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2.19
When analyzing the support we notice one important area.
- A support zone ranging from 2.21 to 2.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 2.69 to 2.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.84 from a horizontal line in the weekly 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 | DOWN | NEGATIVE | The long term trend for RIME is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RIME is neutral. |
| ChartMill Relative Strength | 0 | NEGATIVE | RIME has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RIME is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RIME is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of RIME is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.28 | NEUTRAL | The RSI value for RIME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests RIME has a positive trend. |
| Stochastics (14,3) | 38.52 | NEUTRAL | The Stochastics value for RIME is a neutral value. |
| Average True Range in percent/ATR (20) | 7.35 | HIGH VOLATILITY | The high ATR as a percentage value for RIME suggests high volalility. |
| Average Directional Index/ADX (14) | 10.6 | NEGATIVE | The low ADX value for RIME suggests a weak or negative trend. |
2.59
+0.21 (+8.82%)