FORUM ENERGY TECHNOLOGIES IN (FET)       20.6  -0.66 (-3.1%)

20.6  -0.66 (-3.1%)

US34984V2097 - Common Stock

Technical Rating

3

Taking everything into account, FET scores 3 out of 10 in our technical rating. FET has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.



The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
When comparing the yearly performance of all stocks, we notice that FET is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
FET is an average performer in the Energy Equipment & Services industry, it outperforms 68% of 96 stocks in the same industry.
FET is currently trading in the middle of its 52 week range, while the S&P500 Index is trading in the lower part of its yearly range. So FET is doing better than the market!
In the last month FET has a been trading in the 20.95 - 30.98 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.

Statistics

1 Month 3 Months 6 Months 12 Months -24.88% 3.30% -9.53% 10.38% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 91.23 14.7067 - 30.985
FET Weekly chart
FET Daily chart

Support/Resistance Analysis


17.82

24.41
When analyzing the support we notice one important area.
  • A support zone ranging from 18.00 to 18.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
  • A resistance zone ranging from 21.25 to 21.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A resistance zone ranging from 23.73 to 24.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

Setup Analysis

Setup Rating

1

The technical rating of FET is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.


FET Daily chart

FORUM ENERGY TECHNOLOGIES IN20.6

NYSE:FET (9/26/2022, 9:38:37 AM)-0.66 (-3.1%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Energy Equipment & Services
Performance
Today -3.1% 1 Week -14.2%
2 Weeks -17.98% 1 Month -24.88%
3 Month 3.3% 6 Month -9.53%
Volatility
ATR(14) 1.01 ATR(20)% 5.72%
ATR Inc 69.08% Range Today 0.72
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 91.23 Mansfield 1.51
10 Day High 26.37 10 Day Low 20.96
20 Day High 30.99 20 Day Low 20.96
52 Week High 30.99 52 Week Low 14.71
CS1 End 18.21 CR1 Start 23.73
Volume & EV
DER(3) -10.49% DER(5) -6.57%
Volume 9.85K Volume Incr -15.01%
Vol(5) 25.02K Vol(50) 30.35K

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