INVESCO DB OIL FUND (DBO) Technical Analysis
NYSEARCA:DBO • US46140H4039
Current stock price
DBO Technical Rating and Analysis
We assign a technical rating of 10 out of 10 to DBO. Both in the recent history as in the last year, DBO has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- The long and short term trends are both positive. This is looking good!
- When comparing the yearly performance of all stocks, we notice that DBO is one of the better performing stocks in the market, outperforming 92% of all stocks.
- DBO 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 DBO has a been trading in the 18.54 - 21.31 range, which is quite wide. It is currently trading near the high of this range.
- DBO has an average volume of 1964880 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
DBO Weekly and Daily overview Charts
DBO Setup Rating and Analysis
DBO has an excellent technical rating and 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 21.11. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for DBO 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
DBO Support and Resistance Analysis
12.04
We found 6 important support areas.
- A support zone ranging from 19.95 to 20.27. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 19.03 to 19.13. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @15.81 from a trend line in the daily time frame.
- Support @13.89 from a horizontal line in the weekly time frame.
- Support @13.18 from a horizontal line in the daily time frame.
- Support @12.16 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 21.11 to 21.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
DBO 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 DBO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for DBO is up. |
| ChartMill Relative Strength | 92.27 | POSITIVE | DBO has a high relative strength, it outperformed 92.27% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of DBO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DBO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of DBO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.67 | NEUTRAL | The RSI value for DBO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests DBO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 86.88 | OVERBOUGHT | The high Stochastics value suggests DBO may be overbought. |
| Average True Range in percent/ATR (20) | 3.38 | MEDIUM VOLATILITY | The ATR as a percentage value for DBO suggests some volalility. |
| Average Directional Index/ADX (14) | 20.69 | NEUTRAL | The ADX value for DBO suggests a possible start of a new trend. |
DBO Chart- and CandleStick Pattern Analysis
DBO 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 |
|---|---|---|---|
| 21.12 | 19.94 | 1.18 (5.59%) | 17.90% |
| An entry @21.12. This is a Buy Stop order right above the resistance zone. | An exit @19.94. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.18 points, which is 5.59%. | For a 1.00% total portfolio risk, you can invest 17.90% 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.
DBO Technicals: Chart, Performance Metrics, Trend & Indicators
21.1
+0.34 (+1.64%)
INVESCO DB OIL FUND / DBO TA FAQ
What is the ChartMill technical rating of INVESCO DB OIL FUND (DBO) stock?
ChartMill assigns a technical rating of 10 / 10 to DBO.
What is the current trend direction of INVESCO DB OIL FUND (DBO) stock?
The current trend direction for INVESCO DB OIL FUND (DBO) is Bullish.
Can you provide the RSI signal for INVESCO DB OIL FUND?
INVESCO DB OIL FUND (DBO) has an RSI value of 62.6686. This indicates that the stock is currently neutral.
Can you provide the short term momentum for INVESCO DB OIL FUND?
The short term momentum for INVESCO DB OIL FUND (DBO) is positive.
What is the support and resistance level for DBO stock?
INVESCO DB OIL FUND (DBO) has a support level at 20.27 and a resistance level at 21.11. Check the full technical report for our detailed analysis of DBO support and resistance levels.