Descartes Systems Group Inc DSGX

Primary Symbol: T.DSG

Technology Software - Application

The Descartes Systems Group Inc. is focused on logistics and supply chain management business processes. It provides on-demand, software-as-a-service (SaaS) solutions focused on improving the security and sustainability of logistics-intensive businesses. The Company allows customers to use its modular, SaaS solutions to route, track and help improve the safety, compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete other logistics processes by participating in the multimodal logistics community. Its solutions include cloud-based and consist of B2B service connectivity and messaging, broker and forwarder enterprise systems, global trade intelligence, regulatory compliance, e-commerce shipping, transportation management and routing. It also provides customs declaration software for logistics services providers and shippers.

TSX:DSG - Post by User

Descartes Systems Group Inc

Bullboard Posts

Post by retiredcfon Apr 30, 2020 7:01am

211 Views

Post# 30970040

Technical Analysis

DAILY MARKET REPORT

The Descartes Systems Group Inc forms bullish "Head and Shoulders Bottom" chart pattern
Apr 29, 2020

Recognia has detected a "Head and Shoulders Bottom" chart pattern formed on The Descartes Systems Group Inc (DSG:TSX). This bullish signal indicates that the stock price may rise from the close of $59.59 to the range of $71.00 - $74.00. The pattern formed over 38 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend. The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.