AMCON DISTRIBUTING CO (DIT) Stock Technical Analysis
NYSEARCA:DIT • US02341Q2057
Overall DIT gets a technical rating of 1 out of 10. DIT's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- 76% of all other stocks performed better in the past year than DIT.
- DIT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- Warning: DIT has an average volume of 978 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- DIT is part of the Distributors industry. There are 23 other stocks in this industry. DIT outperforms 72% of them.
- DIT is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Although the technical rating is bad, DIT 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. There is a support zone below the current price at 111.80, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for DIT 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
103.22
When analyzing the support we can see 2 important areas.
- Support @106.87 from a trend line in the weekly time frame.
- A support zone ranging from 104.26 to 105.00. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 110.40 to 112.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 120.28 to 122.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @124.03 from a horizontal line 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 | DOWN | NEGATIVE | The long term trend for DIT is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for DIT is neutral. |
| ChartMill Relative Strength | 24.16 | NEGATIVE | DIT has a low relative strength, it was outperformed by 75.84% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of DIT is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of DIT is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of DIT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.56 | NEUTRAL | The RSI value for DIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.19 | POSITIVE | The MACD value suggests DIT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 52.04 | NEUTRAL | The Stochastics value for DIT is a neutral value. |
| Average True Range in percent/ATR (20) | 2.34 | MEDIUM VOLATILITY | The ATR as a percentage value for DIT suggests some volalility. |
| Average Directional Index/ADX (14) | 11.21 | NEGATIVE | The low ADX value for DIT suggests a weak or negative trend. |
110.25
-1.64 (-1.47%)
AMCON DISTRIBUTING CO / DIT FAQ
What is the ChartMill technical rating of AMCON DISTRIBUTING CO (DIT) stock?
ChartMill assigns a technical rating of 1 / 10 to DIT.
What is the current trend direction of AMCON DISTRIBUTING CO (DIT) stock?
The current trend direction for AMCON DISTRIBUTING CO (DIT) is Bearish.
Can you provide the RSI signal for AMCON DISTRIBUTING CO?
AMCON DISTRIBUTING CO (DIT) has an RSI value of 52.563. This indicates that the stock is currently neutral.
What is the MACD signal for AMCON DISTRIBUTING CO (DIT) stock?
The MACD indicator for AMCON DISTRIBUTING CO (DIT) has a value of 0.193188, indicating a bearish trend.
Can you provide the support and resistance levels for AMCON DISTRIBUTING CO?
AMCON DISTRIBUTING CO (DIT) has a support level at 111.8 and a resistance level at 120.28. Check the full technical report for our detailed analysis of DIT support and resistance levels.