EUROSEAS LTD (ESEA) Stock Technical Analysis
NASDAQ:ESEA • MHY235921357
We assign a technical rating of 5 out of 10 to ESEA. Although ESEA is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- When comparing the yearly performance of all stocks, we notice that ESEA is one of the better performing stocks in the market, outperforming 86% of all stocks.
- 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.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- ESEA is an average performer in the Marine Transportation industry, it outperforms 64% of 35 stocks in the same industry.
- In the last month ESEA has a been trading in the 51.65 - 58.55 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is only medium, ESEA does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 55.73, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
51.98
We found 2 important support areas.
- A support zone ranging from 55.01 to 55.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 52.50 to 54.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
4 important resistance areas can be observed.
- Resistance @56.67 from a trend line in the daily time frame.
- A resistance zone ranging from 59.90 to 60.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @62.48 from a horizontal line in the daily time frame.
- A resistance zone ranging from 64.39 to 64.61. 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 | NEUTRAL | NEUTRAL | The long term trend for ESEA is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ESEA is neutral. |
| ChartMill Relative Strength | 86.49 | POSITIVE | ESEA has a high relative strength, it outperformed 86.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ESEA is above the rising 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) | 54.36 | NEUTRAL | The RSI value for ESEA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.23 | POSITIVE | The MACD value suggests ESEA has a positive trend. |
| Stochastics (14,3) | 70.63 | NEUTRAL | The Stochastics value for ESEA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.91 | MEDIUM VOLATILITY | The ATR as a percentage value for ESEA suggests some volalility. |
| Average Directional Index/ADX (14) | 16.41 | NEGATIVE | The low ADX value for ESEA suggests a weak or negative trend. |
56.55
+0.99 (+1.78%)
EUROSEAS LTD / ESEA FAQ
What is the ChartMill technical rating of EUROSEAS LTD (ESEA) stock?
ChartMill assigns a technical rating of 5 / 10 to ESEA.
What is the current trend direction of EUROSEAS LTD (ESEA) stock?
The current trend direction for EUROSEAS LTD (ESEA) is Bearish.
Can you provide the RSI signal for EUROSEAS LTD?
EUROSEAS LTD (ESEA) has an RSI value of 54.3616. This indicates that the stock is currently neutral.
Can you provide the support and resistance levels for EUROSEAS LTD?
EUROSEAS LTD (ESEA) has a support level at 55.73 and a resistance level at 56.67. Check the full technical report for our detailed analysis of ESEA support and resistance levels.