Manhattan's 15-minute chart triggers RSI oversold, KDJ golden cross.

Manhattan's 15-minute chart has triggered an oversold reading on the Relative Strength Index (RSI) and a golden cross on the KDJ indicator, which occurred on July 14, 2023 at 09:45. This suggests that the stock price has fallen sharply and is below its fundamental support level, and momentum is shifting towards an upward trend, with potential for further price appreciation.

Manhattan Associates, a leading provider of supply chain management software, has recently seen its stock price undergo significant fluctuations. According to data from FactSet, the company is currently rated as "overweight" by analysts, with an average price target of $119.08 [1]. However, a recent technical analysis of the stock's 15-minute chart has indicated a potential shift in momentum.

On July 14, 2023, at 09:45, the Relative Strength Index (RSI) of Manhattan Associates triggered an oversold reading, suggesting that the stock price has fallen sharply and is below its fundamental support level. Concurrently, a golden cross occurred on the KDJ indicator, signaling a potential upward trend in the stock's price. This combination of technical signals suggests that the stock may be poised for further appreciation [2].

Despite these technical indicators, it is essential to note that the company's financial performance and market conditions should also be considered. Analysts at Morgan Stanley have recently initiated coverage on Manhattan Associates, assigning it an "underweight" rating with a price target of $190 [1]. This rating suggests that the analysts believe the stock is currently overvalued and may not perform as well as expected in the near future.

Investors should exercise caution and conduct thorough research before making investment decisions. While the technical indicators provide a short-term perspective, it is crucial to consider the long-term fundamentals of the company and the broader market conditions.

References:

[1] https://www.marketscreener.com/quote/stock/MANHATTAN-ASSOCIATES-INC-9939/news/Morgan-Stanley-Initiates-Manhattan-Associates-at-Underweight-With-190-Price-Target-50500378/
[2] FactSet data