Covidien Plc. (COV) Technical Analysis
NYSE:COV • IE00B68SQD29
Current stock price
COV Technical Rating and Analysis
Taking everything into account, COV scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, COV has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- When comparing the yearly performance of all stocks, we notice that COV is one of the better performing stocks in the market, outperforming 90% of all stocks. We also observe that the gains produced by COV over the past year are nicely spread over this period.
- COV is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month COV has a been trading in the 101.60 - 108.57 range, which is quite wide. It is currently trading near the high of this range.
- COV has an average volume of 4003530 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Volume is considerably higher in the last couple of days.
COV Weekly and Daily overview Charts
COV Setup Rating and Analysis
COV has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
COV Support and Resistance Analysis
80.85
4 important support areas can be observed.
- A support zone ranging from 101.69 to 104.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @99.74 from a horizontal line in the daily time frame.
- Support @89.52 from a trend line in the weekly time frame.
- Support @81.67 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 108.07 to 108.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
COV Technical Indicator Signal Analysis
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 COV is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for COV is up. |
| ChartMill Relative Strength | 90.49 | POSITIVE | COV has a high relative strength, it outperformed 90.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of COV is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of COV is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of COV is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.41 | NEUTRAL | The RSI value for COV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.18 | POSITIVE | The MACD value suggests COV has a positive trend. |
| Average True Range in percent/ATR (20) | 1.53 | LOW VOLATILITY | The low ATR as a percentage value for COV suggests low volalility. |
COV Chart- and CandleStick Pattern Analysis
COV Example Setup
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 |
|---|---|---|---|
| 108.08 | 102.44 | 5.64 (5.22%) | 19.16% |
| An entry @108.08. This is a Buy Stop order right above the resistance zone. | An exit @102.44. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 5.64 points, which is 5.22%. | When investing 19.16% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
COV Technicals: Chart, Performance Metrics, Trend & Indicators
106.71
-1.36 (-1.26%)
Covidien Plc. / COV TA FAQ
Can you provide the ChartMill technical rating for Covidien Plc.?
ChartMill assigns a technical rating of 10 / 10 to COV.
What is the trend direction for COV stock?
The current trend direction for Covidien Plc. (COV) is Bullish.
What is the RSI signal for COV stock?
Covidien Plc. (COV) has an RSI value of 61.4105. This indicates that the stock is currently neutral.
What is the MACD signal for COV stock?
The MACD indicator for Covidien Plc. (COV) has a value of 0.177941, indicating a bearish trend.
Can you provide the short term momentum for Covidien Plc.?
The short term momentum for Covidien Plc. (COV) is positive.