PROGRESS SOFTWARE - Daily - Technical analysis published on 01/15/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 43.64 USD
My targets
46.13 USD (+1.83%)
52.51 USD (+15.92%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on PROGRESS SOFTWARE as long as the price remains well above 43.64 USD. The buyers” bullish objective is set at 46.13 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 52.51 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
9.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
PROGRESS SOFTWARE rating 45.30 USD. On the day, this instrument gained +1.25% and was between 44.63 USD and 45.43 USD. This implies that the price is at +1.50% from its lowest and at -0.29% from its highest.44.63
45.43
45.30
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of PROGRESS SOFTWARE in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 42.73 | 43.64 | 45.23 | 45.30 | 46.13 | 52.51 |
| Change (%) | -5.67% | -3.66% | -0.15% | - | +1.83% | +15.92% |
| Change | -2.57 | -1.66 | -0.07 | - | +0.83 | +7.21 |
| Level | Major | Intermediate | Minor | - | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43.04 | 43.41 | 44.08 | 44.44 | 45.11 | 45.48 | 46.15 |
| Camarilla | 44.46 | 44.56 | 44.65 | 44.75 | 44.84 | 44.94 | 45.03 |
| Woodie | 43.19 | 43.48 | 44.23 | 44.52 | 45.26 | 45.55 | 46.30 |
| Fibonacci | 43.41 | 43.80 | 44.05 | 44.44 | 44.84 | 45.08 | 45.48 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 40.42 | 41.09 | 42.21 | 42.88 | 44.00 | 44.67 | 45.79 |
| Camarilla | 42.85 | 43.01 | 43.18 | 43.34 | 43.50 | 43.67 | 43.83 |
| Woodie | 40.66 | 41.20 | 42.45 | 42.99 | 44.24 | 44.78 | 46.03 |
| Fibonacci | 41.09 | 41.77 | 42.19 | 42.88 | 43.56 | 43.98 | 44.67 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 37.65 | 38.89 | 40.22 | 41.46 | 42.79 | 44.03 | 45.36 |
| Camarilla | 40.84 | 41.08 | 41.31 | 41.55 | 41.79 | 42.02 | 42.26 |
| Woodie | 37.70 | 38.91 | 40.27 | 41.48 | 42.84 | 44.05 | 45.41 |
| Fibonacci | 38.89 | 39.87 | 40.48 | 41.46 | 42.44 | 43.05 | 44.03 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 78.55 | |
| MACD (12,26,9): | 0.7800 | |
| Directional Movement: | 29.65 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 43.66 | |
| Parabolic SAR (0,02-0,02-0,2): | 41.95 | |
| Elder Ray (13): | 1.82 | |
| Super Trend (3,10): | 42.85 | |
| Zig ZAG (10): | 45.29 | |
| VORTEX (21): | 1.2500 | |
| Stochastique (14,3,5): | 97.65 | |
| TEMA (21): | 44.13 | |
| Williams %R (14): | -2.88 | |
| Chande Momentum Oscillator (20): | 3.60 | |
| Repulse (5,40,3): | 4.9700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1500 | |
| Courbe Coppock: | 9.75 |
| MA7: | 43.54 | |
| MA20: | 42.42 | |
| MA50: | 41.81 | |
| MA100: | 40.54 | |
| MAexp7: | 43.84 | |
| MAexp20: | 42.77 | |
| MAexp50: | 41.86 | |
| MAexp100: | 41.23 | |
| Price / MA7: | +4.04% | |
| Price / MA20: | +6.79% | |
| Price / MA50: | +8.35% | |
| Price / MA100: | +11.74% | |
| Price / MAexp7: | +3.33% | |
| Price / MAexp20: | +5.92% | |
| Price / MAexp50: | +8.22% | |
| Price / MAexp100: | +9.87% |
News
Don"t forget to follow the news on PROGRESS SOFTWARE. At the time of publication of this analysis, the latest news was as follows:
Progress SoftwareThis member declared not having a position on this financial instrument or a related financial instrument.
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