2020 Technical Analysis - 2020 BULKERS LTD

Technical Rating and Analysis

Taking everything into account, 2020 scores 3 out of 10 in our technical rating. In the last year, 2020 was a bad performer. We also see some doubts in the very recent evolution, but in the medium term things still look positive.

62% of all other stocks performed better in the past year than 2020.

In the last month 2020 has a been trading in the 131.70 - 152.00 range, which is quite wide. It is currently trading near the lows of this range.

2020 is one of the better performing stocks in the Marine Transportation industry, it outperforms 70% of 18 stocks in the same industry.

2020 is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so 2020 is lagging the market slightly.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

2020 BULKERS LTD / 2020 Weekly stock chart

2020 BULKERS LTD / 2020 Daily stock chart

Setup Rating and Analysis

2020 has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 134.19, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

130.06

150.50

We found 1 important support area.

A support zone ranging from 131.37 to 135.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 145.58 to 149.01. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The short term trend for 2020.OL is down.
ChartMill Relative Strength	38.1	NEUTRAL	2020.OL is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of 2020.OL is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of 2020.OL is below 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)	42.57	NEUTRAL	The RSI value for 2020.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.45	NEGATIVE	The MACD value suggests 2020.OL has a negative trend, although the MACD value is rising.
Stochastics (14,3)	21.16	NEUTRAL	The Stochastics value for 2020.OL is a neutral value.
Average True Range in percent/ATR (20)	2.75	MEDIUM VOLATILITY	The ATR as a percentage value for 2020.OL suggests some volalility.
Average Directional Index/ADX (14)	22.97	NEUTRAL	The ADX value for 2020.OL suggests a possible start of a new trend.