ENERGY RECOVERY INC (ERII) Stock Technical Analysis
NASDAQ:ERII • US29270J1007
We assign a technical rating of 8 out of 10 to ERII. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ERII is only an average performer.
- ERII is part of the Machinery industry. There are 131 other stocks in this industry, of which 63% are performing better than ERII.
- Both the short term and long term trends are positive. This is a very positive sign.
- ERII 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.
- When compared to the yearly performance of all other stocks, ERII outperforms 53% of them, which is more or less in line with the market.
- ERII is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ERII is lagging the market.
Besides having an excellent technical rating, ERII also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 15.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 14.88, a Stop Loss order could be placed below this zone.
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12.87
When analyzing the support we can see 6 important areas.
- A support zone ranging from 14.49 to 14.88. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @14.13 from a trend line in the weekly time frame.
- Support @13.89 from a trend line in the daily time frame.
- A support zone ranging from 13.63 to 13.64. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A support zone ranging from 13.27 to 13.28. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @13.00 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 15.61 to 15.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @17.60 from a trend line in the weekly 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 | UP | POSITIVE | The long term trend for ERII is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ERII is up. |
| ChartMill Relative Strength | 53.56 | NEUTRAL | ERII is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ERII is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ERII is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ERII is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.4 | NEUTRAL | The RSI value for ERII is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests ERII has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 74.1 | NEUTRAL | The Stochastics value for ERII is a neutral value. |
| Average True Range in percent/ATR (20) | 2.83 | MEDIUM VOLATILITY | The ATR as a percentage value for ERII suggests some volalility. |
| Average Directional Index/ADX (14) | 25.78 | POSITIVE | The high ADX value value for ERII suggests a strong 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 |
|---|---|---|---|
| 15.83 | 14.25 | 1.58 (10.01%) | 9.99% |
| An entry @15.83. This is a Buy Stop order right above the resistance zone. | An exit @14.25. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.58 points, which is 10.01%. | For a 1.00% total portfolio risk, you can invest 9.99% 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.
15.6
+0.23 (+1.5%)
ENERGY RECOVERY INC / ERII FAQ
What is the ChartMill technical rating of ENERGY RECOVERY INC (ERII) stock?
ChartMill assigns a technical rating of 8 / 10 to ERII.
Can you provide the trend direction for ENERGY RECOVERY INC?
The current trend direction for ENERGY RECOVERY INC (ERII) is Bullish.
What is the RSI signal for ENERGY RECOVERY INC (ERII) stock?
ENERGY RECOVERY INC (ERII) has an RSI value of 63.4039. This indicates that the stock is currently neutral.
What is the MACD signal for ERII stock?
The MACD indicator for ENERGY RECOVERY INC (ERII) has a value of 0.072798, indicating a bearish trend.
What are the support and resistance levels for ENERGY RECOVERY INC (ERII) stock?
ENERGY RECOVERY INC (ERII) has a support level at 14.88 and a resistance level at 15.61. Check the full technical report for our detailed analysis of ERII support and resistance levels.