RMB/USD ETN Vaneck (CNY) Stock Technical Analysis
USA - NYSEARCA:CNY -
We assign a technical rating of 6 out of 10 to CNY. CNY has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
Although the technical rating is only medium, CNY does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 44.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 44.22, a Stop Loss order could be placed below this zone.
More info and screens
41.47
When analyzing the support we can see 2 important areas.
- A support zone ranging from 43.20 to 44.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 41.89 to 42.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 44.61 to 45.06. 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 | NEUTRAL | NEUTRAL | The long term trend for CNY is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNY is up. |
| ChartMill Relative Strength | 86.66 | POSITIVE | CNY has a high relative strength, it outperformed 86.66% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CNY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of CNY is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CNY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.65 | NEUTRAL | The RSI value for CNY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.11 | POSITIVE | The MACD value suggests CNY has a positive trend. |
| Stochastics (14,3) | 79.65 | NEUTRAL | The Stochastics value for CNY is a neutral value. |
| Average True Range in percent/ATR (20) | 2.87 | MEDIUM VOLATILITY | The ATR as a percentage value for CNY suggests some volalility. |
NYSEARCA:CNY (3/30/2020, 8:04:06 PM)
44.25
+0.6 (+1.37%)