CONNECTONE BANCORP INC (CNOB) Stock Technical Analysis
NASDAQ:CNOB - US20786W1071 - Common Stock
24.9 USD
-0.3 (-1.19%)
24.9 USD
0 (0%)
Taking everything into account, CNOB scores 8 out of 10 in our technical rating. Although CNOB is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
CNOB is one of the lesser performing stocks in the Banks industry. 65% of 391 stocks in the same industry do better.
Both the short term and long term trends are positive. This is a very positive sign.
CNOB 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.
When comparing the performance of all stocks over the past year, CNOB turns out to be only a medium performer in the overall market: it outperformed 53% of all stocks.
CNOB is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CNOB is lagging the market.
Besides having an excellent technical rating, CNOB also presents a decent setup pattern. Prices have been consolidating lately. 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 25.43. Right above this resistance zone may be a good entry point.
More info and screens
21.29
25.98
When analyzing the support we can see 3 important areas.
- A support zone ranging from 22.41 to 22.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 21.89 to 21.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @21.51 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 25.43 to 25.72. This zone is formed by a combination of multiple trend lines and important moving averages 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 CNOB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNOB is up. |
| ChartMill Relative Strength | 53.59 | NEUTRAL | CNOB is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CNOB is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNOB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of CNOB is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.24 | NEUTRAL | The RSI value for CNOB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests CNOB has a negative trend. |
| Stochastics (14,3) | 62.81 | NEUTRAL | The Stochastics value for CNOB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.39 | MEDIUM VOLATILITY | The ATR as a percentage value for CNOB suggests some volalility. |
| Average Directional Index/ADX (14) | 23.8 | NEUTRAL | The ADX value for CNOB suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 25.73 | 24.74 | 0.99 (3.85%) | 25.00% |
| An entry @25.73. This is a Buy Stop order right above the resistance zone. | An exit @24.74. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.99 points, which is 3.85%. | For a 0.96% total portfolio risk, you can invest 25.00% 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.
24.9
-0.3 (-1.19%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-1.19%
1 Week-0.92%
2 Weeks-2.08%
1 Month3.62%
3 Month11.76%
6 Month6.73%
12 Month0.85%
2 Year39.65%
3 Year7.98%
5 Year76.97%
10 Year29.02%
15 YearN/A
Volatility
ATR(14)0.63
ATR(20)%2.39%
ATR Inc11.75%
Range Today0.63
ADR(20)0.58
ADR(20)%2.33%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS53.59
Mansfield-0.69
10 Day High26
10 Day Low24.75
20 Day High26
20 Day Low23.62
52 Week High29.31
52 Week Low20.61
CS1 End22.79
CR1 Start25.43
Volume & EV
DER(3)-1.37%
DER(5)-0.67%
Volume219.50K
Volume Incr3.11%
Vol(5)263.00K
Vol(50)300.32K