ENOV Technical Analysis - ENOVIS CORP

Technical Rating and Analysis

Overall ENOV gets a technical rating of 5 out of 10. In the past year, ENOV was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.

66% of all other stocks performed better in the past year than ENOV.

ENOV 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.

The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.

In the last month ENOV has a been trading in the 29.00 - 32.90 range, which is quite wide. It is currently trading near the high of this range.

ENOV is an average performer in the Health Care Equipment & Supplies industry, it outperforms 59% of 190 stocks in the same industry.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is only medium, ENOV 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 31.20, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

29.39

48.58

We found 3 important support areas.

A support zone ranging from 30.87 to 31.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @30.17 from a trend line in the daily time frame.
A support zone ranging from 29.69 to 29.69. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 4 important resistance areas.

Resistance @32.42 from a horizontal line in the weekly time frame.
A resistance zone ranging from 33.33 to 33.37. This zone is formed by a combination of multiple trend lines in the daily time frame.
Resistance @35.55 from a trend line in the weekly time frame.
Resistance @48.10 from a horizontal line in the weekly time frame.

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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	NEUTRAL	NEUTRAL	The long term trend for ENOV is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ENOV is up.
ChartMill Relative Strength	34.1	NEUTRAL	ENOV is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ENOV is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ENOV is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ENOV is below a declining SMA(200).
Relative Strength Index/RSI (14)	58.23	NEUTRAL	The RSI value for ENOV is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.11	POSITIVE	The MACD value suggests ENOV has a positive trend.
Stochastics (14,3)	74.7	NEUTRAL	The Stochastics value for ENOV is a neutral value.
Average True Range in percent/ATR (20)	3.74	MEDIUM VOLATILITY	The ATR as a percentage value for ENOV suggests some volalility.
Average Directional Index/ADX (14)	15.65	NEGATIVE	The low ADX value for ENOV suggests a weak or negative trend.