Overall ESEA gets a technical rating of 7 out of 10. In the last year, ESEA was one of the better performers, but we do observe some doubts in the very recent evolution.
ESEA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 58.40, a Stop Loss order could be placed below this zone.
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52.86
We found 2 important support areas.
- A support zone ranging from 58.11 to 58.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 53.39 to 53.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 64.39 to 65.07. 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 ESEA is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ESEA is neutral. |
| ChartMill Relative Strength | 88.32 | POSITIVE | ESEA has a high relative strength, it outperformed 88.32% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ESEA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ESEA is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ESEA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.5 | NEUTRAL | The RSI value for ESEA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests ESEA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 60.24 | NEUTRAL | The Stochastics value for ESEA is a neutral value. |
| Average True Range in percent/ATR (20) | 4.47 | MEDIUM VOLATILITY | The ATR as a percentage value for ESEA suggests some volalility. |
| Average Directional Index/ADX (14) | 16.99 | NEGATIVE | The low ADX value for ESEA suggests a weak or negative 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 |
|---|---|---|---|
| 60.76 | 58.10 | 2.66 (4.38%) | 22.82% |
| An entry @60.76. This is a Buy Stop order right above the 10 day moving average. | An exit @58.10. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.66 points, which is 4.38%. | When investing 22.82% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of ESEA. Please evaluate whether better entry and exit points can be found.
- 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.
58.83
-2.61 (-4.24%)
EUROSEAS LTD / ESEA FAQ
What is the ChartMill technical rating of EUROSEAS LTD (ESEA) stock?
ChartMill assigns a technical rating of 7 / 10 to ESEA.
Can you provide the trend direction for EUROSEAS LTD?
The current trend direction for EUROSEAS LTD (ESEA) is Bullish.
Can you provide the RSI signal for EUROSEAS LTD?
EUROSEAS LTD (ESEA) has an RSI value of 47.5033. This indicates that the stock is currently neutral.
What is the short term momentum for ESEA stock?
The short term momentum for EUROSEAS LTD (ESEA) is neutral.
Can you provide the support and resistance levels for EUROSEAS LTD?
EUROSEAS LTD (ESEA) has a support level at 58.4 and a resistance level at 64.39. Check the full technical report for our detailed analysis of ESEA support and resistance levels.