SPIR Technical Analysis - SPIR GROUP ASA

Technical Rating and Analysis

Taking everything into account, SPIR scores 7 out of 10 in our technical rating. SPIR was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.

SPIR is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month SPIR has a been trading in the 9.74 - 11.50 range, which is quite wide. It is currently trading near the lows of this range.

The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!

Looking at the yearly performance, SPIR did better than 82% of all other stocks. We also observe that the gains produced by SPIR over the past year are nicely spread over this period.

SPIR is one of the better performing stocks in the Software industry, it outperforms 81% of 101 stocks in the same industry.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

SPIR GROUP ASA / SPIR Weekly stock chart

Setup Rating and Analysis

Although SPIR has an excellent technical rating, it does not present a decent entry opportunity 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

7.92

11.12

3 important resistance areas can be observed.

A resistance zone ranging from 9.71 to 9.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 10.11 to 10.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 10.75 to 11.01. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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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	UP	POSITIVE	The long term trend for SPIR.OL is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for SPIR.OL is neutral.
ChartMill Relative Strength	82.14	POSITIVE	SPIR.OL has a high relative strength, it outperformed 82.14% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of SPIR.OL is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of SPIR.OL is below the rising SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of SPIR.OL is below the rising SMA(200).
Relative Strength Index/RSI (14)	54.24	NEUTRAL	The RSI value for SPIR.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.03	POSITIVE	The MACD value suggests SPIR.OL has a positive trend.
Stochastics (14,3)	56.38	NEUTRAL	The Stochastics value for SPIR.OL is a neutral value.
Average True Range in percent/ATR (20)	3.25	MEDIUM VOLATILITY	The ATR as a percentage value for SPIR.OL suggests some volalility.
Average Directional Index/ADX (14)	15.92	NEGATIVE	The low ADX value for SPIR.OL suggests a weak or negative trend.