CONTANGO ORE INC (CTGO) Stock Technical Analysis
NYSEARCA:CTGO - NYSE Arca - US21077F1003 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to CTGO. In the last year, CTGO was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
CTGO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CTGO is lagging the market slightly.
In the last month CTGO has a been trading in the 18.16 - 21.10 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
When comparing the yearly performance of all stocks, we notice that CTGO is one of the better performing stocks in the market, outperforming 71% of all stocks. However, this relatively good performance is mostly due to a recent big move.
CTGO is part of the Metals & Mining industry. There are 156 other stocks in this industry, CTGO did better than 45% of them.
Although the technical rating is only medium, CTGO does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 19.65, 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
19.09
23.93
We found 1 important support area.
- A support zone ranging from 19.28 to 19.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 19.99 to 20.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 20.93 to 21.30. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @23.69 from a horizontal line in the weekly time frame.
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 CTGO is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CTGO is neutral. |
| ChartMill Relative Strength | 71.04 | POSITIVE | CTGO has a high relative strength, it outperformed 71.04% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CTGO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CTGO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CTGO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.92 | NEUTRAL | The RSI value for CTGO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests CTGO has a negative trend. |
| Stochastics (14,3) | 61.79 | NEUTRAL | The Stochastics value for CTGO is a neutral value. |
| Average True Range in percent/ATR (20) | 4.35 | MEDIUM VOLATILITY | The ATR as a percentage value for CTGO suggests some volalility. |
| Average Directional Index/ADX (14) | 16.42 | NEGATIVE | The low ADX value for CTGO 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)
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 |
|---|---|---|---|
| 20.38 | 19.27 | 1.11 (5.45%) | 18.36% |
| An entry @20.38. This is a Buy Stop order right above the resistance zone. | An exit @19.27. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.11 points, which is 5.45%. | For a 1.00% total portfolio risk, you can invest 18.36% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CTGO. 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.
19.91
-0.45 (-2.21%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-2.21%
1 Week0.71%
2 Weeks-2.26%
1 Month-4.92%
3 Month43.03%
6 Month81.99%
12 Month-13.62%
2 Year7.04%
3 Year-11.51%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.77
ATR(20)%4.35%
ATR Inc-13.14%
Range Today0.69
ADR(20)0.83
ADR(20)%4.19%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS71.04
Mansfield1.5
10 Day High21.1
10 Day Low19.26
20 Day High21.1
20 Day Low18.16
52 Week High23.95
52 Week Low8.85
CS1 End19.65
CR1 Start19.99
Volume & EV
DER(3)-5.53%
DER(5)-3.69%
Volume37.20K
Volume Incr-7.61%
Vol(5)74.02K
Vol(50)97.46K