EURONAV NV (EURN.BR)       10.96  +0.64 (+6.2%)

10.96  +0.64 (+6.2%)

BE0003816338 - Common Stock

Technical Rating

Overall EURN gets a technical rating of 6 out of 10. In the last year, EURN was one of the better performers, but we do observe some doubts in the very recent evolution.



The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
Looking at the yearly performance, EURN did better than 95% of all other stocks.
EURN is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 73% of 42 stocks in the same industry.
EURN is currently trading in the upper part of its 52 week range. This is a good signal, certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
In the last month EURN has a been trading in the 9.57 - 11.71 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.

Statistics

1 Month 3 Months 6 Months 12 Months -5.52% 21.29% 26.47% 37.69% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 95.19 6.404 - 12.07
EURN Weekly chart
EURN Daily chart

Support/Resistance Analysis


6.53

11.08
6 important support areas can be observed.
  • A support zone ranging from 10.31 to 10.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @9.91 from a horizontal line in the daily time frame.
  • Support @8.21 from a trend line in the weekly time frame.
  • Support @7.67 from a trend line in the daily time frame.
  • Support @7.06 from a horizontal line in the daily time frame.
  • A support zone ranging from 6.60 to 6.67. This zone is formed by a combination of multiple trend lines in the weekly time frame.
We found 1 important resistance area.
  • Resistance @10.97 from a trend line in the daily time frame.

Setup Analysis

Setup Rating

Although the technical rating is only medium, EURN 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 10.64, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EURN in the last couple of days, which is a good sign.

  • Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
10.9810.300.68 (6.19%)16.15%
An entry @10.98. This is a Buy Stop order right above the resistance zone.An exit @10.30. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 0.68 points, which is 6.19%.For a 1.00% total portfolio risk, you can invest 16.15% of your capital in this trade.

  • The distance between exit and entry is rather small compared to the average daily movement of EURN. 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.
EURN Daily chart

EURONAV NV10.96

EBR:EURN (5/16/2022, 5:29:42 PM)+0.64 (+6.2%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Oil, Gas & Consumable Fuels
Performance
Today 6.2% 1 Week 8.95%
2 Weeks -0.27% 1 Month -5.52%
3 Month 21.29% 6 Month 26.47%
Volatility
ATR(14) 0.56 ATR(20)% 4.98%
ATR Inc 23.05% Range Today 0.75
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 95.19 Mansfield 4.07
10 Day High 11.6 10 Day Low 9.57
20 Day High 11.71 20 Day Low 9.57
52 Week High 12.07 52 Week Low 6.4
CS1 End 10.64 CR1 Start 10.97
Volume & EV
DER(3) 10.47% DER(5) 6.25%
Volume 219.99K Volume Incr -31.04%
Vol(5) 516.66K Vol(50) 857.65K

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