ESAB CORP (ESAB) Stock Technical Analysis
NYSE:ESAB - New York Stock Exchange, Inc. - US29605J1060 - Common Stock - Currency: USD
Overall ESAB gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ESAB is showing a nice and steady performance.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
ESAB is part of the Machinery industry. There are 128 other stocks in this industry. ESAB outperforms 78% of them.
ESAB is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ESAB is performing more or less in line with the market.
Looking at the yearly performance, ESAB did better than 82% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
In the last month ESAB has a been trading in the 114.35 - 132.55 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although ESAB has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
100.73
132.54
When analyzing the support we can see 4 important areas.
- A support zone ranging from 119.92 to 123.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @111.22 from a trend line in the weekly time frame.
- A support zone ranging from 106.79 to 107.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @101.75 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 131.00 to 131.23. 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 | UP | POSITIVE | The long term trend for ESAB is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ESAB is neutral. |
| ChartMill Relative Strength | 82.88 | POSITIVE | ESAB has a high relative strength, it outperformed 82.88% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of ESAB is below 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) | 49.02 | NEUTRAL | The RSI value for ESAB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.48 | NEGATIVE | The MACD value suggests ESAB has a negative trend. |
| Stochastics (14,3) | 33.82 | NEUTRAL | The Stochastics value for ESAB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.81 | MEDIUM VOLATILITY | The ATR as a percentage value for ESAB suggests some volalility. |
| Average Directional Index/ADX (14) | 15.44 | NEGATIVE | The low ADX value for ESAB suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
123.22
-1.69 (-1.35%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMachinery
Performance
% Chg-1.35%
1 Week-5.4%
2 Weeks-3.63%
1 Month2.73%
3 Month2.56%
6 Month-3.39%
12 Month18.84%
2 Year109.84%
3 Year146.44%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.82
ATR(20)%2.81%
ATR Inc-33.68%
Range Today2.41
ADR(20)3.27
ADR(20)%2.65%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS82.88
Mansfield0.74
10 Day High132.55
10 Day Low122.68
20 Day High132.55
20 Day Low114.35
52 Week High135.97
52 Week Low88.54
CS1 End123.21
CR1 Start131
Volume & EV
DER(3)-4.17%
DER(5)-1.81%
Volume171.70K
Volume Incr-39.85%
Vol(5)167.32K
Vol(50)326.72K