Spree Acquisition Corp 1 Limited (SHAP) Stock Technical Analysis
NYSE:SHAP - New York Stock Exchange, Inc. - KYG837451023 - Common Stock - Currency: USD
Taking everything into account, SHAP scores 6 out of 10 in our technical rating. 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.
SHAP has only a medium technical rating, but it does show a decent setup pattern. 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 support zone below the current price at 10.90, a Stop Loss order could be placed below this zone. 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.
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10.46
When analyzing the support we notice one important 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%)