ESEA Technical Analysis - EUROSEAS LTD

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to ESEA. In the last year, ESEA was one of the better performers, but we do observe some doubts in the very recent evolution.

In the last month ESEA has a been trading in the 53.29 - 66.00 range, which is quite wide. It is currently trading near the lows of this range.

ESEA is part of the Marine Transportation industry. There are 35 other stocks in this industry. ESEA outperforms 94% of them.

ESEA is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ESEA is lagging the market slightly.

The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

When comparing the yearly performance of all stocks, we notice that ESEA is one of the better performing stocks in the market, outperforming 82% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

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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

ESEA has an average technical rating and also the quality of the setup is only medium at the moment. We see reduced volatility while prices have been consolidating in the most recent period.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

52.86

65.25

We found 2 important support areas.

Support @54.25 from a trend line in the daily time frame.
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.

3 important resistance areas can be observed.

A resistance zone ranging from 55.56 to 56.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 58.05 to 58.86. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @64.60 from a horizontal line in the daily time frame.

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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	UP	POSITIVE	The long term trend for ESEA is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for ESEA is down.
ChartMill Relative Strength	82.49	POSITIVE	ESEA has a high relative strength, it outperformed 82.49% 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)	UP	MIXED	The current price of ESEA is below the rising 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)	41.49	NEUTRAL	The RSI value for ESEA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.39	NEGATIVE	The MACD value suggests ESEA has a negative trend, although the MACD value is rising.
Stochastics (14,3)	29.03	NEUTRAL	The Stochastics value for ESEA is a neutral value.
Average True Range in percent/ATR (20)	4.84	MEDIUM VOLATILITY	The ATR as a percentage value for ESEA suggests some volalility.
Average Directional Index/ADX (14)	24.19	NEUTRAL	The ADX value for ESEA suggests a possible start of a new trend.