With the current stock price and the moving averages showing signs of indecision, any consecutive day stock move in either direction will likely push the stock into a bearish or bullish momentum channel that could persist for the short-term. This is a critical inflection point.
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ASNA is down -32.3% over the last three months and down -23.0% over the last six months. The stock has returned -60.5% over the last year. The current stock price is $4.21.
ASNA Stock Returns
The technical rating goes from a rating of one, the weakest upside technical, to a rating of five, the highest upside technical. This is strictly focusing on price and technical — that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the technical rating meaningful, the moving averages are also compared to each other.
If you’re looking for the simplest version of this, here it is — when the short-term moving averages are above the long-term moving averages that indicates relative strength in the technical. Then see the current price relative to the highest moving average and you will have a “back of the envelope” technical indicator in your back pocket for any stock at any time.
The blending and weighting of numbers above created the technical model built by Capital Market Laboratories (www.CMLviz.com). Note the stock price at publication ($4.21), since the technical rating is based on intraday stock prices.
Technicals | Support: 3.65 | Resistance: 5.41