CORNER GROWTH ACQUISITION -A (TRON) Stock Technical Analysis
NASDAQ:TRON - Nasdaq - KYG2426E1044 - Common Stock - Currency: USD
Taking everything into account, TRON scores 3 out of 10 in our technical rating. In the last year, TRON was a medium performer in the overall market. We are getting mixed signals now in both the short and medium term picture.
TRON 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 TRON has a been trading in the 11.50 - 17.90 range, which is quite wide. It is currently trading near the lows of this range.
Warning: TRON has an average volume of 5918 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
When comparing the performance of all stocks over the past year, TRON turns out to be only a medium performer in the overall market: it outperformed 49% of all stocks.
Considerably lower volume is observed in the last couple of days.
TRON has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 11.49, a Stop Loss order could be placed below this zone.
More info and screens
11.18
12.61
We found 2 important support areas.
- A support zone ranging from 11.49 to 11.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @11.29 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 11.57 to 11.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 12.18 to 12.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @12.49 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 TRON is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for TRON is down. |
| ChartMill Relative Strength | 49.92 | NEUTRAL | TRON is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of TRON is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of TRON is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TRON is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 44.66 | NEUTRAL | The RSI value for TRON is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests TRON has a negative trend. |
| Stochastics (14,3) | 0.66 | OVERSOLD | The low Stochastics value suggests TRON may be oversold. |
| Average True Range in percent/ATR (20) | 5.77 | HIGH VOLATILITY | The high ATR as a percentage value for TRON suggests high volalility. |
| Average Directional Index/ADX (14) | 45.73 | POSITIVE | The high ADX value value for TRON 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)
NASDAQ:TRON (8/13/2024, 8:00:02 PM)
11.5
-0.1 (-0.86%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.86%
1 Week-1.96%
2 Weeks-6.5%
1 Month-5.74%
3 Month0.09%
6 Month1.77%
12 Month12.86%
2 Year13.75%
3 Year17.59%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.73
ATR(20)%5.77%
ATR Inc-85.1%
Range Today0.1
ADR(20)0.43
ADR(20)%3.72%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS49.92
Mansfield-1.17
10 Day High12.5
10 Day Low11.5
20 Day High17.9
20 Day Low11.5
52 Week High17.9
52 Week Low9.71
CS1 End11.49
CR1 Start11.57
Volume & EV
DER(3)0%
DER(5)0%
Volume5.40K
Volume Incr24.44%
Vol(5)1.68K
Vol(50)5.92K