TASKUS INC-A (TASK) Stock Technical Analysis
NASDAQ:TASK - Nasdaq - US87652V1098 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to TASK. In the last year, TASK was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
The long and short term trends are both positive. This is looking good!
TASK is part of the IT Services industry. There are 82 other stocks in this industry. TASK outperforms 74% of them.
TASK is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Looking at the yearly performance, TASK did better than 87% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
TASK is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so TASK is lagging the market slightly.
TASK has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 17.03. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 16.75, a Stop Loss order could be placed below this zone.
More info and screens
11.52
17.20
5 important support areas can be observed.
- A support zone ranging from 16.60 to 16.75. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 14.91 to 15.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @12.80 from a trend line in the weekly time frame.
- Support @11.88 from a horizontal line in the daily time frame.
- Support @11.64 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- Resistance @17.03 from a horizontal line in the daily 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 | UP | POSITIVE | The long term trend for TASK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TASK is up. |
| ChartMill Relative Strength | 87.03 | POSITIVE | TASK has a high relative strength, it outperformed 87.03% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TASK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TASK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TASK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.76 | OVERBOUGHT | The high RSI value suggests TASK may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests TASK has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 93.16 | OVERBOUGHT | The high Stochastics value suggests TASK may be overbought. |
| Average True Range in percent/ATR (20) | 2.77 | MEDIUM VOLATILITY | The ATR as a percentage value for TASK suggests some volalility. |
| Average Directional Index/ADX (14) | 39.66 | POSITIVE | The high ADX value value for TASK suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 17.04 | 16.59 | 0.45 (2.64%) | 25.00% |
| An entry @17.04. This is a Buy Stop order right above the resistance zone. | An exit @16.59. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.45 points, which is 2.64%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.66%. |
- The distance between exit and entry is rather small compared to the average daily movement of TASK. 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.
16.75
-0.1 (-0.59%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg-0.59%
1 Week0.9%
2 Weeks-0.59%
1 Month21.91%
3 Month16.56%
6 Month13.02%
12 Month15.12%
2 Year54.38%
3 Year-31.86%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.44
ATR(20)%2.77%
ATR Inc-59.7%
Range Today0.2
ADR(20)0.36
ADR(20)%2.14%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS87.03
Mansfield1.35
10 Day High16.96
10 Day Low16.5
20 Day High17.05
20 Day Low13.25
52 Week High19.6
52 Week Low10.57
CS1 End16.75
CR1 Start17.03
Volume & EV
DER(3)-1.86%
DER(5)0.65%
Volume329.70K
Volume Incr-52.93%
Vol(5)373.02K
Vol(50)515.20K