TAOP Technical Analysis - TAOPING INC

Technical Rating and Analysis

Taking everything into account, TAOP scores 1 out of 10 in our technical rating. TAOP'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.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, TAOP is a bad performer in the overall market: 97% of all stocks are doing better.

TAOP is part of the IT Services industry. There are 82 other stocks in this industry, of which 86% are performing better than TAOP.

TAOP is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so TAOP is lagging the market.

In the last month TAOP has a been trading in the 5.65 - 13.04 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.

TAOP has an average volume of 18777900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Considerably lower volume is observed 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

Setup Rating and Analysis

TAOP has a poor technical rating and the quality of the setup is also only medium 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

5.94

8.13

When analyzing the resistance we notice 4 important areas.

A resistance zone ranging from 6.38 to 6.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 7.01 to 7.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @7.25 from a trend line in the daily time frame.
A resistance zone ranging from 8.01 to 8.05. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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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 TAOP is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for TAOP is down.
ChartMill Relative Strength	3.75	NEGATIVE	TAOP has a low relative strength, it was outperformed by 96.25% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of TAOP is below the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of TAOP is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of TAOP is below a declining SMA(200).
Relative Strength Index/RSI (14)	42.78	NEUTRAL	The RSI value for TAOP is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.14	NEGATIVE	The MACD value suggests TAOP has a negative trend.
Stochastics (14,3)	25.93	NEUTRAL	The Stochastics value for TAOP is a neutral value.
Average True Range in percent/ATR (20)	21.9	HIGH VOLATILITY	The high ATR as a percentage value for TAOP suggests high volalility.
Average Directional Index/ADX (14)	44.89	POSITIVE	The high ADX value value for TAOP suggests a strong trend.