Overall BNO gets a technical rating of 8 out of 10. Although BNO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- BNO 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 BNO is lagging the market slightly.
- BNO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- When comparing the performance of all stocks over the past year, BNO turns out to be only a medium performer in the overall market: it outperformed 58% of all stocks.
BNO 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 32.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 30.95, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
26.66
We found 5 important support areas.
- A support zone ranging from 30.94 to 30.95. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 30.09 to 30.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 29.27 to 29.49. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 27.58 to 28.32. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @26.93 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 32.38 to 33.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 BNO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BNO is up. |
| ChartMill Relative Strength | 58.04 | NEUTRAL | BNO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BNO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BNO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BNO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.06 | NEUTRAL | The RSI value for BNO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests BNO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 67.62 | NEUTRAL | The Stochastics value for BNO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.66 | MEDIUM VOLATILITY | The ATR as a percentage value for BNO suggests some volalility. |
| Average Directional Index/ADX (14) | 26.66 | POSITIVE | The high ADX value value for BNO suggests a strong 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 |
|---|---|---|---|
| 33.44 | 30.93 | 2.51 (7.51%) | 13.32% |
| An entry @33.44. This is a Buy Stop order right above the resistance zone. | An exit @30.93. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.51 points, which is 7.51%. | When investing 13.32% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
32.02
+0.19 (+0.6%)
UNITED STATES BRENT OIL FUND / BNO FAQ
What is the technical rating for BNO stock?
ChartMill assigns a technical rating of 8 / 10 to BNO.
Can you provide the trend direction for UNITED STATES BRENT OIL FUND?
The current trend direction for UNITED STATES BRENT OIL FUND (BNO) is Bullish.
Can you provide the RSI signal for UNITED STATES BRENT OIL FUND?
UNITED STATES BRENT OIL FUND (BNO) has an RSI value of 60.0577. This indicates that the stock is currently neutral.
What is the short term momentum for BNO stock?
The short term momentum for UNITED STATES BRENT OIL FUND (BNO) is positive.
What is the buy/sell signal for BNO stock?
The buy/sell signal for UNITED STATES BRENT OIL FUND (BNO) is buy as both the short term and long term trends are positive.