CONTANGO ORE INC (CTGO) Stock Technical Analysis
NYSEARCA:CTGO • US21077F1003
Taking everything into account, CTGO scores 7 out of 10 in our technical rating. CTGO was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
- In the last month CTGO has a been trading in the 24.75 - 34.38 range, which is quite wide. It is currently trading near the lows of this range.
- Looking at the yearly performance, CTGO did better than 97% of all other stocks. On top of that, CTGO also shows a nice and consistent pattern of rising prices.
- 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.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- CTGO is an average performer in the Metals & Mining industry, it outperforms 69% of 157 stocks in the same industry.
Besides having an excellent technical rating, CTGO also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 28.42. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for CTGO in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
20.02
When analyzing the support we can see 5 important areas.
- Support @25.99 from a horizontal line in the weekly time frame.
- A support zone ranging from 25.30 to 25.54. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 24.43 to 24.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @22.59 from a trend line in the weekly time frame.
- Support @20.22 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 28.42 to 29.13. This zone is formed by a combination of multiple trend lines and important moving averages in the daily 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 | NEUTRAL | NEUTRAL | The long term trend for CTGO is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CTGO is neutral. |
| ChartMill Relative Strength | 97.06 | POSITIVE | CTGO has a high relative strength, it outperformed 97.06% 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 | MIXED | The current price of CTGO is below 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) | 49.14 | NEUTRAL | The RSI value for CTGO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.23 | NEGATIVE | The MACD value suggests CTGO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 39.78 | NEUTRAL | The Stochastics value for CTGO is a neutral value. |
| Average True Range in percent/ATR (20) | 7.02 | HIGH VOLATILITY | The high ATR as a percentage value for CTGO suggests high volalility. |
| Average Directional Index/ADX (14) | 21.3 | NEUTRAL | The ADX value for CTGO suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 29.14 | 25.98 | 3.16 (10.84%) | 9.22% |
| An entry @29.14. This is a Buy Stop order right above the resistance zone. | An exit @25.98. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.16 points, which is 10.84%. | For a 1.00% total portfolio risk, you can invest 9.22% 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.
27.82
+0.55 (+2.02%)
CONTANGO ORE INC / CTGO FAQ
What is the technical rating for CTGO stock?
ChartMill assigns a technical rating of 7 / 10 to CTGO.
What is the trend direction for CTGO stock?
The current trend direction for CONTANGO ORE INC (CTGO) is Bearish.
What is the RSI signal for CTGO stock?
CONTANGO ORE INC (CTGO) has an RSI value of 49.1373. This indicates that the stock is currently neutral.
Can you provide the MACD signal for CONTANGO ORE INC?
The MACD indicator for CONTANGO ORE INC (CTGO) has a value of -0.231035, indicating a bearish trend.
What is the short term momentum for CONTANGO ORE INC (CTGO) stock?
The short term momentum for CONTANGO ORE INC (CTGO) is neutral.