CERAGON NETWORKS LTD (CRNT) Stock Technical Analysis
NASDAQ:CRNT - Nasdaq - IL0010851660 - Common Stock - Currency: USD
Overall CRNT gets a technical rating of 2 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. CRNT was also a bad performer in the overall market in the last year.
When comparing the yearly performance of all stocks, CRNT is a bad performer in the overall market: 71% of all stocks are doing better.
CRNT is one of the lesser performing stocks in the Communications Equipment industry. 72% of 49 stocks in the same industry do better.
CRNT is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CRNT is lagging the market.
In the last month CRNT has a been trading in the 2.03 - 2.57 range, which is quite wide. It is currently trading near the high of this range.
The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, CRNT does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. We notice that large players showed an interest for CRNT in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
2.07
2.54
We found 3 important support areas.
- Support @2.42 from a trend line in the daily time frame.
- A support zone ranging from 2.26 to 2.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.09 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @2.44 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 2.49 to 2.51. This zone is formed by a combination of multiple trend lines and important moving averages 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 | DOWN | NEGATIVE | The long term trend for CRNT is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CRNT is up. |
| ChartMill Relative Strength | 29.54 | NEGATIVE | CRNT has a low relative strength, it was outperformed by 70.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CRNT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of CRNT is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CRNT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.65 | NEUTRAL | The RSI value for CRNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests CRNT has a positive trend. |
| Stochastics (14,3) | 56.44 | NEUTRAL | The Stochastics value for CRNT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.62 | MEDIUM VOLATILITY | The ATR as a percentage value for CRNT suggests some volalility. |
| Average Directional Index/ADX (14) | 14.53 | NEGATIVE | The low ADX value for CRNT suggests a weak or negative 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)
2.43
+0.03 (+1.25%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryCommunications Equipment
Performance
% Chg1.25%
1 Week4.29%
2 Weeks1.67%
1 Month7.52%
3 Month-4.71%
6 Month-43.49%
12 Month-7.25%
2 Year15.71%
3 Year-5.45%
5 Year13.02%
10 Year111.3%
15 Year-67.16%
Volatility
ATR(14)0.09
ATR(20)%4.62%
ATR Inc-33.58%
Range Today0.05
ADR(20)0.1
ADR(20)%4.28%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS29.54
Mansfield-2.27
10 Day High2.44
10 Day Low2.23
20 Day High2.57
20 Day Low2.03
52 Week High5.73
52 Week Low1.95
CS1 End2.42
CR1 Start2.44
Volume & EV
DER(3)8.71%
DER(5)6.48%
Volume584.30K
Volume Incr-28.27%
Vol(5)560.58K
Vol(50)868.08K