SPDR Bofa Merrill Lynch Crossov (CJNK) Stock Technical Analysis
USA - NYSEARCA:CJNK -
Taking everything into account, CJNK scores 6 out of 10 in our technical rating. In the last year, CJNK was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
Although the technical rating is only medium, CJNK 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 26.20. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 26.19, a Stop Loss order could be placed below this zone.
More info and screens
24.22
We found 2 important support areas.
- A support zone ranging from 25.90 to 26.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 24.46 to 24.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 26.20 to 26.22. 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 CJNK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CJNK is up. |
| ChartMill Relative Strength | 62.75 | NEUTRAL | CJNK is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CJNK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CJNK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CJNK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.3 | NEUTRAL | The RSI value for CJNK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests CJNK has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.61 | OVERBOUGHT | The high Stochastics value suggests CJNK may be overbought. |
| Average True Range in percent/ATR (20) | 0.35 | LOW VOLATILITY | The low ATR as a percentage value for CJNK suggests low volalility. |
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 |
|---|---|---|---|
| 26.23 | 26.04 | 0.19 (0.72%) | 25.00% |
| An entry @26.23. This is a Buy Stop order right above the resistance zone. | An exit @26.04. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.19 points, which is 0.72%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.18%. |
- 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.
SPDR Bofa Merrill Lynch Crossov
NYSEARCA:CJNK (9/20/2019, 8:22:08 PM)
26.1915
+0.01 (+0.04%)