FORUM ENERGY TECHNOLOGIES IN (FET) Stock Technical Analysis
NYSE:FET - New York Stock Exchange, Inc. - US34984V2097 - Common Stock - Currency: USD
Overall FET gets a technical rating of 6 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Although the technical rating is only medium, FET does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 18.66, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FET 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.
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13.82
When analyzing the support we can see 3 important areas.
- A support zone ranging from 18.38 to 18.66. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @14.87 from a trend line in the weekly 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 2 important areas.
- Resistance @20.27 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 20.66 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 | DOWN | NEGATIVE | The short term trend for FET is down. |
| ChartMill Relative Strength | 83.63 | POSITIVE | FET has a high relative strength, it outperformed 83.63% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of FET is below a declining 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) | 45.96 | NEUTRAL | The RSI value for FET is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.22 | NEGATIVE | The MACD value suggests FET has a negative trend. |
| Stochastics (14,3) | 20.62 | NEUTRAL | The Stochastics value for FET is a neutral value. |
| Average True Range in percent/ATR (20) | 4.12 | MEDIUM VOLATILITY | The ATR as a percentage value for FET suggests some volalility. |
| Average Directional Index/ADX (14) | 25.93 | POSITIVE | The high ADX value value for FET 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 |
|---|---|---|---|
| 19.70 | 18.37 | 1.33 (6.75%) | 14.82% |
| An entry @19.70. This is a Buy Stop order right above the 10 day moving average. | An exit @18.37. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.33 points, which is 6.75%. | For a 1.00% total portfolio risk, you can invest 14.82% of your capital in this trade. |
- 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.
18.93
+0.03 (+0.16%)