Covidien Plc. (COV) Stock Technical Analysis
NYSE:COV - New York Stock Exchange, Inc. - IE00B68SQD29
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 is trading in the upper part of its 52 week range, but not near new highs, so COV is leading 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 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
80.85
109.15
We found 4 important support areas.
- 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.
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. |
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 |
|---|---|---|---|
| 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%. | For a 1.00% total portfolio risk, you can invest 19.16% 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.
106.71
-1.36 (-1.26%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.26%
1 Week2.56%
2 Weeks1.49%
1 Month3.25%
3 Month15.44%
6 Month22.75%
12 Month56.37%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.82
ATR(20)%1.53%
ATR Inc1.75%
Range Today1.45
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.49
Mansfield1.88
10 Day High108.57
10 Day Low102.45
20 Day High108.57
20 Day Low101.6
52 Week High108.57
52 Week Low65.97
CS1 End104.61
CR1 Start108.07
Volume & EV
DER(3)-0.82%
DER(5)-1.82%
Volume24.89M
Volume Incr171.22%
Vol(5)9.87M
Vol(50)4.00M