Spree Acquisition Corp 1 Limited (SHAP) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:SHAP • KYG837451023
We assign a technical rating of 6 out of 10 to SHAP. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, SHAP is only an average performer.
- In the last month SHAP has a been trading in the 10.80 - 11.93 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been consolidating recently, but much resistance may still be present above.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- When comparing the performance of all stocks over the past year, SHAP turns out to be only a medium performer in the overall market: it outperformed 50% of all stocks.
- SHAP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SHAP is lagging the market.
- Considerably lower volume is observed in the last couple of days.
Although the technical rating is only medium, SHAP does present a nice setup opportunity. 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. There is a support zone below the current price at 10.90, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- 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
10.46
We found 1 important support area.
- A support zone ranging from 10.57 to 10.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 10.91 to 10.96. 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 SHAP is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SHAP is neutral. |
| ChartMill Relative Strength | 50.83 | NEUTRAL | SHAP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of SHAP is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SHAP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SHAP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.66 | NEUTRAL | The RSI value for SHAP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests SHAP has a negative trend. |
| Stochastics (14,3) | 6.21 | OVERSOLD | The low Stochastics value suggests SHAP may be oversold. |
| Average True Range in percent/ATR (20) | 1.24 | LOW VOLATILITY | The low ATR as a percentage value for SHAP suggests low volalility. |
| Average Directional Index/ADX (14) | 49.01 | POSITIVE | The high ADX value value for SHAP suggests a strong trend. |
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 |
|---|---|---|---|
| 10.97 | 10.86 | 0.11 (1.00%) | 25.00% |
| An entry @10.97. This is a Buy Stop order right above the resistance zone. | An exit @10.86. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.11 points, which is 1.00%. | For a 0.25% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SHAP. Please evaluate whether better entry and exit points can be found.
- 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.
Spree Acquisition Corp 1 Limited
NYSE:SHAP (2/20/2024, 8:05:29 PM)
10.91
-0.02 (-0.18%)
Spree Acquisition Corp 1 Limited / SHAP FAQ
Can you provide the ChartMill technical rating for Spree Acquisition Corp 1 Limited?
ChartMill assigns a technical rating of 6 / 10 to SHAP.
What is the trend direction for SHAP stock?
The current trend direction for Spree Acquisition Corp 1 Limited (SHAP) is Bullish.
What is the RSI signal for SHAP stock?
Spree Acquisition Corp 1 Limited (SHAP) has an RSI value of 49.6625. This indicates that the stock is currently neutral.
What is the short term momentum for Spree Acquisition Corp 1 Limited (SHAP) stock?
The short term momentum for Spree Acquisition Corp 1 Limited (SHAP) is neutral.