CHEFS' WAREHOUSE INC/THE (CHEF) Stock Technical Analysis
NASDAQ:CHEF - Nasdaq - US1630861011 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to CHEF. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
CHEF 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 65.30. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 63.10, a Stop Loss order could be placed below this zone.
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48.44
We found 4 important support areas.
- A support zone ranging from 61.37 to 63.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @55.09 from a trend line in the weekly time frame.
- A support zone ranging from 53.35 to 53.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @48.93 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 65.30 to 65.30. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A resistance zone ranging from 66.35 to 66.35. This zone is formed by a combination of multiple trend lines 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 CHEF is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CHEF is neutral. |
| ChartMill Relative Strength | 92.88 | POSITIVE | CHEF has a high relative strength, it outperformed 92.88% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CHEF is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CHEF is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CHEF is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.63 | NEUTRAL | The RSI value for CHEF is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.4 | NEGATIVE | The MACD value suggests CHEF has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 33.17 | NEUTRAL | The Stochastics value for CHEF is a neutral value. |
| Average True Range in percent/ATR (20) | 2.8 | MEDIUM VOLATILITY | The ATR as a percentage value for CHEF suggests some volalility. |
| Average Directional Index/ADX (14) | 16.53 | NEGATIVE | The low ADX value for CHEF 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 |
|---|---|---|---|
| 65.31 | 61.36 | 3.95 (6.05%) | 16.53% |
| An entry @65.31. This is a Buy Stop order right above the resistance zone. | An exit @61.36. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.95 points, which is 6.05%. | For a 1.00% total portfolio risk, you can invest 16.53% 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.
63.2
+1.73 (+2.81%)