Overall ETNB gets a technical rating of 9 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, ETNB is showing a nice and steady performance.
Besides having an excellent technical rating, ETNB also presents a decent setup pattern. 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 14.88. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 14.81, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ETNB in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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.
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3 important support areas can be observed.
- A support zone ranging from 14.69 to 14.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 8.85 to 8.88. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.07 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 14.88 to 14.97. 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 | UP | POSITIVE | The short term trend for ETNB is up. |
| ChartMill Relative Strength | 94.47 | POSITIVE | ETNB has a high relative strength, it outperformed 94.47% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ETNB is above the rising 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) | 76.78 | OVERBOUGHT | The high RSI value suggests ETNB may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.18 | NEGATIVE | The MACD value suggests ETNB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 67.86 | NEUTRAL | The Stochastics value for ETNB is a neutral value. |
| Average True Range in percent/ATR (20) | 0.46 | LOW VOLATILITY | The low ATR as a percentage value for ETNB suggests low volalility. |
| Average Directional Index/ADX (14) | 55.24 | POSITIVE | The high ADX value value for ETNB suggests a strong 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 |
|---|---|---|---|
| 14.88 | 14.73 | 0.15 (1.01%) | 25.00% |
| An entry @14.88. This is a Buy Stop order right above the 10 day high. | An exit @14.73. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.15 points, which is 1.01%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.25%. |
- 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.
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89BIO INC / ETNB FAQ
What is the ChartMill technical rating of 89BIO INC (ETNB) stock?
ChartMill assigns a technical rating of 9 / 10 to ETNB.
What is the trend direction for ETNB stock?
The current trend direction for 89BIO INC (ETNB) is Bullish.
Can you provide the RSI signal for 89BIO INC?
89BIO INC (ETNB) has an RSI value of 76.7789. This indicates that the stock is currently overbought.
What is the buy/sell signal for 89BIO INC (ETNB) stock?
The buy/sell signal for 89BIO INC (ETNB) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for 89BIO INC (ETNB) stock?
89BIO INC (ETNB) has a support level at 14.81 and a resistance level at 14.88. Check the full technical report for our detailed analysis of ETNB support and resistance levels.