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 9 out of 10 to FET. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, FET is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
FET is part of the Energy Equipment & Services industry. There are 62 other stocks in this industry. FET outperforms 90% of them.
FET is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month FET has a been trading in the 18.29 - 21.23 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
When comparing the yearly performance of all stocks, we notice that FET is one of the better performing stocks in the market, outperforming 89% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
FET has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 20.86. 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 3 important areas.
- A support zone ranging from 19.50 to 19.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- 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 20.86 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 | 89.19 | POSITIVE | FET has a high relative strength, it outperformed 89.19% 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) | 69.05 | NEUTRAL | The RSI value for FET is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests FET has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 84.33 | OVERBOUGHT | The high Stochastics value suggests FET may be overbought. |
| Average True Range in percent/ATR (20) | 3.92 | MEDIUM VOLATILITY | The ATR as a percentage value for FET suggests some volalility. |
| Average Directional Index/ADX (14) | 40.18 | 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 | 19.49 | 1.62 (7.67%) | 13.03% |
| An entry @21.11. This is a Buy Stop order right above the resistance zone. | An exit @19.49. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.62 points, which is 7.67%. | When investing 13.03% 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.
20.85
+0.16 (+0.77%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryEnergy Equipment & Services
Performance
% Chg0.77%
1 Week6.92%
2 Weeks6.92%
1 Month12.76%
3 Month47.25%
6 Month24.85%
12 Month29.1%
2 Year-23.37%
3 Year5.3%
5 Year108.25%
10 Year-93.18%
15 YearN/A
Volatility
ATR(14)0.79
ATR(20)%3.92%
ATR Inc-12.31%
Range Today0.78
ADR(20)0.81
ADR(20)%3.87%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.19
Mansfield1.56
10 Day High21.23
10 Day Low19.02
20 Day High21.23
20 Day Low18.29
52 Week High21.57
52 Week Low12.78
CS1 End19.96
CR1 Start20.86
Volume & EV
DER(3)-3.55%
DER(5)-7.5%
Volume129.70K
Volume Incr3.8%
Vol(5)99.86K
Vol(50)73.84K