EMPIRE PETROLEUM CORP (EP) Technical Analysis
NYSEARCA:EP • US2920343033
We assign a technical rating of 1 out of 10 to EP. EP'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 short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When comparing the yearly performance of all stocks, EP is a bad performer in the overall market: 91% of all stocks are doing better.
- EP is part of the Oil, Gas & Consumable Fuels industry. There are 207 other stocks in this industry, of which 91% are performing better than EP.
- EP is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month EP has a been trading in the 2.85 - 4.00 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
Although the technical rating is bad, EP does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 2.90, a Stop Loss order could be placed below this zone.
More info and screens
2.79
When analyzing the support we notice one important area.
- A support zone ranging from 2.82 to 2.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 3.12 to 3.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 3.68 to 3.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 EP is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for EP is neutral. |
| ChartMill Relative Strength | 9.61 | NEGATIVE | EP has a low relative strength, it was outperformed by 90.39% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of EP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of EP is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of EP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 45.48 | NEUTRAL | The RSI value for EP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests EP has a negative trend. |
| Stochastics (14,3) | 25.22 | NEUTRAL | The Stochastics value for EP is a neutral value. |
| Average True Range in percent/ATR (20) | 9.26 | HIGH VOLATILITY | The high ATR as a percentage value for EP suggests high volalility. |
| Average Directional Index/ADX (14) | 31.73 | POSITIVE | The high ADX value value for EP suggests a strong trend. |
EP Technicals: Chart, Performance Metrics, Trend & Indicators
3.08
+0.1 (+3.36%)
EMPIRE PETROLEUM CORP / EP FAQ
What is the ChartMill technical rating of EMPIRE PETROLEUM CORP (EP) stock?
ChartMill assigns a technical rating of 1 / 10 to EP.
What is the trend direction for EP stock?
The current trend direction for EMPIRE PETROLEUM CORP (EP) is Bearish.
Can you provide the RSI signal for EMPIRE PETROLEUM CORP?
EMPIRE PETROLEUM CORP (EP) has an RSI value of 45.4771. This indicates that the stock is currently neutral.
What is the MACD signal for EMPIRE PETROLEUM CORP (EP) stock?
The MACD indicator for EMPIRE PETROLEUM CORP (EP) has a value of -0.0058712, indicating a bearish trend.
What is the support and resistance level for EP stock?
EMPIRE PETROLEUM CORP (EP) has a support level at 2.9 and a resistance level at 3.08. Check the full technical report for our detailed analysis of EP support and resistance levels.