2020 BULKERS LTD (2020.OL) Stock Technical Analysis
OSL:2020 - Euronext Oslo - BMG9156K1018 - Common Stock - Currency: NOK
Taking everything into account, 2020 scores 7 out of 10 in our technical rating. Although 2020 is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
2020 has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 127.33. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 122.53, a Stop Loss order could be placed below this zone.
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99.87
5 important support areas can be observed.
- A support zone ranging from 121.06 to 122.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @117.36 from a trend line in the daily time frame.
- Support @114.60 from a horizontal line in the weekly time frame.
- Support @111.50 from a horizontal line in the daily time frame.
- Support @100.88 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 127.33 to 128.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @131.01 from a horizontal line in the daily time frame.
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 2020.OL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for 2020.OL is up. |
| ChartMill Relative Strength | 34.4 | NEUTRAL | 2020.OL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of 2020.OL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of 2020.OL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of 2020.OL is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.49 | NEUTRAL | The RSI value for 2020.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests 2020.OL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 69.05 | NEUTRAL | The Stochastics value for 2020.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.54 | MEDIUM VOLATILITY | The ATR as a percentage value for 2020.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 13.81 | NEGATIVE | The low ADX value for 2020.OL suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 128.81 | 122.49 | 6.32 (4.91%) | 20.38% |
| An entry @128.81. This is a Buy Stop order right above the resistance zone. | An exit @122.49. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 6.32 points, which is 4.91%. | For a 1.00% total portfolio risk, you can invest 20.38% 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.
OSL:2020 (8/1/2025, 4:18:45 PM)
125.95
-2.05 (-1.6%)