CNX RESOURCES CORP (CNX) Stock Technical Analysis
USA - NYSE:CNX - US12653C1080 - Common Stock
Overall CNX gets a technical rating of 7 out of 10. Although CNX is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, CNX also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 32.60, 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
27.11
We found 6 important support areas.
- A support zone ranging from 32.25 to 32.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 30.85 to 31.44. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @29.93 from a trend line in the weekly time frame.
- A support zone ranging from 28.58 to 28.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @28.11 from a horizontal line in the daily time frame.
- Support @27.38 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 34.40 to 35.21. 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 CNX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNX is up. |
| ChartMill Relative Strength | 27.74 | NEGATIVE | CNX has a low relative strength, it was outperformed by 72.26% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CNX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CNX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.06 | NEUTRAL | The RSI value for CNX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests CNX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 35.86 | NEUTRAL | The Stochastics value for CNX is a neutral value. |
| Average True Range in percent/ATR (20) | 3.09 | MEDIUM VOLATILITY | The ATR as a percentage value for CNX suggests some volalility. |
| Average Directional Index/ADX (14) | 22.01 | NEUTRAL | The ADX value for CNX suggests a possible start of a new 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 |
|---|---|---|---|
| 33.00 | 32.24 | 0.76 (2.30%) | 25.00% |
| An entry @33.00. This is a Buy Stop order right above the 10 day high. | An exit @32.24. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.76 points, which is 2.30%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.58%. |
- The distance between exit and entry is rather small compared to the average daily movement of CNX. Please evaluate whether better entry and exit points can be found.
- 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.
32.69
-0.05 (-0.15%)
CNX RESOURCES CORP / CNX FAQ
What is the ChartMill technical rating of CNX RESOURCES CORP (CNX) stock?
ChartMill assigns a technical rating of 7 / 10 to CNX.
What is the trend direction for CNX stock?
The current trend direction for CNX RESOURCES CORP (CNX) is Bullish.
Can you provide the RSI signal for CNX RESOURCES CORP?
CNX RESOURCES CORP (CNX) has an RSI value of 56.0571. This indicates that the stock is currently neutral.
Can you provide the MACD signal for CNX RESOURCES CORP?
The MACD indicator for CNX RESOURCES CORP (CNX) has a value of -0.0986025, indicating a bearish trend.
What is the support and resistance level for CNX stock?
CNX RESOURCES CORP (CNX) has a support level at 32.6 and a resistance level at 34.4. Check the full technical report for our detailed analysis of CNX support and resistance levels.