BEEM Technical Analysis - BEAM GLOBAL

Technical Rating and Analysis

Taking everything into account, BEEM scores 8 out of 10 in our technical rating. Although BEEM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.

The long and short term trends are both positive. This is looking good!

In the last month BEEM has a been trading in the 2.39 - 3.79 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, BEEM did better than 72% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.

BEEM is an average performer in the Electrical Equipment industry, it outperforms 42% of 93 stocks in the same industry.

BEEM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BEEM is lagging the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although BEEM has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.52

3.78

When analyzing the support we can see 2 important areas.

A support zone ranging from 2.73 to 2.75. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @2.55 from a trend line in the daily time frame.

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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 BEEM is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for BEEM is up.
ChartMill Relative Strength	72.03	POSITIVE	BEEM has a high relative strength, it outperformed 72.03% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of BEEM is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BEEM is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of BEEM is above the rising SMA(200).
Relative Strength Index/RSI (14)	70.67	OVERBOUGHT	The high RSI value suggests BEEM may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.08	POSITIVE	The MACD value suggests BEEM has a positive trend.
Stochastics (14,3)	83.81	OVERBOUGHT	The high Stochastics value suggests BEEM may be overbought.
Average True Range in percent/ATR (20)	8.14	HIGH VOLATILITY	The high ATR as a percentage value for BEEM suggests high volalility.
Average Directional Index/ADX (14)	34.09	POSITIVE	The high ADX value value for BEEM suggests a strong trend.