CION INVESTMENT CORP (CION) Stock Technical Analysis
NYSE:CION - New York Stock Exchange, Inc. - US17259U2042 - Common Stock - Currency: USD
Overall CION gets a technical rating of 2 out of 10. In the past year, CION was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is bad, CION does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 9.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 9.77, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
9.14
We found 2 important support areas.
- A support zone ranging from 9.74 to 9.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.23 from a trend line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 9.93 to 9.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @12.51 from a horizontal line in the weekly 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 | DOWN | NEGATIVE | The long term trend for CION is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CION is up. |
| ChartMill Relative Strength | 17.17 | NEGATIVE | CION has a low relative strength, it was outperformed by 82.83% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CION is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of CION is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CION is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 65.53 | NEUTRAL | The RSI value for CION is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests CION has a positive trend. |
| Stochastics (14,3) | 91.41 | OVERBOUGHT | The high Stochastics value suggests CION may be overbought. |
| Average True Range in percent/ATR (20) | 1.78 | LOW VOLATILITY | The low ATR as a percentage value for CION suggests low volalility. |
| Average Directional Index/ADX (14) | 23.26 | NEUTRAL | The ADX value for CION suggests a possible start of a new trend. |
9.92
+0.09 (+0.92%)