ESAB Technical Analysis - ESAB CORP

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to ESAB. ESAB has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

In the last month ESAB has a been trading in the 106.68 - 123.03 range, which is quite wide. It is currently trading near the high of this range.

When comparing the performance of all stocks over the past year, ESAB turns out to be only a medium performer in the overall market: it outperformed 41% of all stocks.

ESAB is part of the Machinery industry. There are 129 other stocks in this industry, ESAB did better than 53% of them.

ESAB is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ESAB is lagging the market.

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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

ESAB has an average technical rating and also the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

108.63

136.44

When analyzing the support we can see 2 important areas.

A support zone ranging from 117.27 to 119.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 109.73 to 110.91. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 2 important areas.

Resistance @122.89 from a horizontal line in the daily time frame.
A resistance zone ranging from 131.22 to 135.09. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Support and Resistance indicators

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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 ESAB is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ESAB is up.
ChartMill Relative Strength	41.89	NEUTRAL	ESAB is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ESAB is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ESAB is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ESAB is above the rising SMA(200).
Relative Strength Index/RSI (14)	64.73	NEUTRAL	The RSI value for ESAB is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.95	POSITIVE	The MACD value suggests ESAB has a positive trend, although the MACD value is declining.
Stochastics (14,3)	89.99	OVERBOUGHT	The high Stochastics value suggests ESAB may be overbought.
Average True Range in percent/ATR (20)	2.53	MEDIUM VOLATILITY	The ATR as a percentage value for ESAB suggests some volalility.
Average Directional Index/ADX (14)	27.04	POSITIVE	The high ADX value value for ESAB suggests a strong trend.