FORUM ENERGY TECHNOLOGIES IN (FET) Stock Technical Analysis
NYSE:FET - New York Stock Exchange, Inc. - US34984V2097 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to FET. Although FET is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The long and short term trends are both positive. This is looking good!
FET is one of the better performing stocks in the Energy Equipment & Services industry, it outperforms 83% of 62 stocks in the same industry.
FET 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 FET is lagging the market slightly.
In the last month FET has a been trading in the 18.75 - 21.23 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
Looking at the yearly performance, FET did better than 79% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
Volume is considerably higher in the last couple of days.
FET has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 20.85. Right above this resistance zone may be a good entry point.
More info and screens
13.82
21.31
When analyzing the support we can see 2 important areas.
- Support @19.12 from a horizontal line in the daily time frame.
- A support zone ranging from 13.96 to 13.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 20.85 to 21.10. 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 FET is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FET is up. |
| ChartMill Relative Strength | 79.1 | POSITIVE | FET has a high relative strength, it outperformed 79.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FET is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FET is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FET is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.23 | NEUTRAL | The RSI value for FET is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests FET has a negative trend. |
| Stochastics (14,3) | 73.35 | NEUTRAL | The Stochastics value for FET is a neutral value. |
| Average True Range in percent/ATR (20) | 4.11 | MEDIUM VOLATILITY | The ATR as a percentage value for FET suggests some volalility. |
| Average Directional Index/ADX (14) | 39.79 | POSITIVE | The high ADX value value for FET suggests a strong 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 |
|---|---|---|---|
| 21.11 | 19.11 | 2.00 (9.47%) | 10.55% |
| An entry @21.11. This is a Buy Stop order right above the resistance zone. | An exit @19.11. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.00 points, which is 9.47%. | When investing 10.55% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
19.93
-0.92 (-4.41%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryEnergy Equipment & Services
Performance
% Chg-4.41%
1 Week2.68%
2 Weeks-0.9%
1 Month4.89%
3 Month29%
6 Month4.4%
12 Month14.02%
2 Year-26.75%
3 Year0.66%
5 Year99.06%
10 Year-93.48%
15 YearN/A
Volatility
ATR(14)0.81
ATR(20)%4.11%
ATR Inc7.6%
Range Today0.78
ADR(20)0.8
ADR(20)%4.02%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.1
Mansfield1.03
10 Day High21.23
10 Day Low19.02
20 Day High21.23
20 Day Low18.75
52 Week High21.57
52 Week Low12.78
CS1 End19.12
CR1 Start20.85
Volume & EV
DER(3)-6.12%
DER(5)-6.93%
Volume90.80K
Volume Incr3.26%
Vol(5)100.58K
Vol(50)74.36K