Slack Technologies Inc (WORK) Technical Analysis
NYSE:WORK
Current stock price
WORK Technical Rating and Analysis
We assign a technical rating of 7 out of 10 to WORK. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, WORK is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- WORK is one of the better performing stocks in the Software industry, it outperforms 86% of 275 stocks in the same industry.
- A new 52 week high is currently being made by WORK, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so WORK is leading the market.
- WORK has an average volume of 6658520 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that WORK is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
- In the last month WORK has a been trading in a tight range between 43.42 and 45.64.
- Volume is considerably higher in the last couple of days.
WORK Weekly and Daily overview Charts
WORK Setup Rating and Analysis
Besides having an excellent technical rating, WORK also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 45.21. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 44.89, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WORK in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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.
More info and screens
WORK Support and Resistance Analysis
32.16
When analyzing the support we can see 4 important areas.
- A support zone ranging from 43.66 to 44.89. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @42.81 from a trend line in the weekly time frame.
- A support zone ranging from 39.94 to 40.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @32.48 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 45.21 to 45.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
WORK 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 WORK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WORK is up. |
| ChartMill Relative Strength | 73.56 | POSITIVE | WORK has a high relative strength, it outperformed 73.56% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WORK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WORK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WORK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.98 | NEUTRAL | The RSI value for WORK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests WORK has a positive trend. |
| Stochastics (14,3) | 87.39 | OVERBOUGHT | The high Stochastics value suggests WORK may be overbought. |
| Average True Range in percent/ATR (20) | 1.21 | LOW VOLATILITY | The low ATR as a percentage value for WORK suggests low volalility. |
WORK Chart- and CandleStick Pattern Analysis
WORK Example Setup
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 |
|---|---|---|---|
| 45.22 | 43.41 | 1.81 (4.00%) | 24.98% |
| An entry @45.22. This is a Buy Stop order right above the resistance zone. | An exit @43.41. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.81 points, which is 4.00%. | For a 1.00% total portfolio risk, you can invest 24.98% of your capital in this trade. |
- 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.
WORK Technicals: Chart, Performance Metrics, Trend & Indicators
45.2
+0.04 (+0.09%)
Slack Technologies Inc / WORK TA FAQ
What is the ChartMill technical rating of Slack Technologies Inc (WORK) stock?
ChartMill assigns a technical rating of 7 / 10 to WORK.
What is the trend direction for WORK stock?
The current trend direction for Slack Technologies Inc (WORK) is Bullish.
What is the RSI signal for WORK stock?
Slack Technologies Inc (WORK) has an RSI value of 64.9821. This indicates that the stock is currently neutral.
What is the MACD signal for WORK stock?
The MACD indicator for Slack Technologies Inc (WORK) has a value of 0.0292114, indicating a bearish trend.
Can you provide the short term momentum for Slack Technologies Inc?
The short term momentum for Slack Technologies Inc (WORK) is positive.