89BIO INC (ETNB) Stock Technical Analysis
NASDAQ:ETNB - Nasdaq - US2825591033 - Common Stock - Currency: USD
Overall ETNB gets a technical rating of 6 out of 10. In the last year, ETNB was one of the better performers, although we are getting mixed signals now in both the short and medium term time frames.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
ETNB is one of the better performing stocks in the Biotechnology industry, it outperforms 88% of 555 stocks in the same industry.
ETNB 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 ETNB is lagging the market slightly.
ETNB has an average volume of 2032380 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that ETNB is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this relatively good performance is mostly due to a recent big move.
In the last month ETNB has a been trading in the 9.21 - 10.70 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, ETNB does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 10.40. Right above this resistance zone may be a good entry point.
More info and screens
9.62
10.69
When analyzing the support we notice one important area.
- A support zone ranging from 9.72 to 9.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 9.90 to 10.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 10.38 to 10.58. 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 ETNB is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ETNB is neutral. |
| ChartMill Relative Strength | 91.73 | POSITIVE | ETNB has a high relative strength, it outperformed 91.73% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ETNB is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ETNB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ETNB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.63 | NEUTRAL | The RSI value for ETNB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.12 | NEGATIVE | The MACD value suggests ETNB has a negative trend. |
| Stochastics (14,3) | 41.25 | NEUTRAL | The Stochastics value for ETNB is a neutral value. |
| Average True Range in percent/ATR (20) | 5.33 | HIGH VOLATILITY | The high ATR as a percentage value for ETNB suggests high volalility. |
| Average Directional Index/ADX (14) | 16.63 | NEGATIVE | The low ADX value for ETNB 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)
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 |
|---|---|---|---|
| 9.91 | 9.60 | 0.31 (3.08%) | 25.00% |
| An entry @9.91. This is a Buy Stop order right above the 10 day moving average. | An exit @9.60. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.31 points, which is 3.08%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.77%. |
- The distance between exit and entry is rather small compared to the average daily movement of ETNB. 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.
9.73
-0.09 (-0.92%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-0.92%
1 Week-0.87%
2 Weeks-3.18%
1 Month-3.76%
3 Month68.63%
6 Month22.24%
12 Month29.39%
2 Year-38.57%
3 Year174.09%
5 Year-67.97%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.54
ATR(20)%5.33%
ATR Inc-9.56%
Range Today0.47
ADR(20)0.51
ADR(20)%5.26%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.73
Mansfield0.73
10 Day High10.28
10 Day Low9.45
20 Day High10.7
20 Day Low9.21
52 Week High11.84
52 Week Low4.16
CS1 End9.61
CR1 Start10.4
Volume & EV
DER(3)1.22%
DER(5)2.55%
Volume1.93M
Volume Incr-13.34%
Vol(5)1.97M
Vol(50)2.03M