FORUM ENERGY TECHNOLOGIES IN (FET) Stock Technical Analysis
NYSE:FET • US34984V2097
Taking everything into account, FET scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, FET has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, FET did better than 98% of all other stocks. We also observe that the gains produced by FET over the past year are nicely spread over this period.
- FET is part of the Energy Equipment & Services industry. There are 60 other stocks in this industry. FET outperforms 100% of them.
- FET is currently making a new 52 week high. This is a strong signal. 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 43.19 - 58.80 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.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although FET has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
37.17
We found 2 important support areas.
- A support zone ranging from 41.42 to 41.89. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @37.55 from a trend line in the daily time frame.
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 | 98.46 | POSITIVE | FET has a high relative strength, it outperformed 98.46% 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) | 82.83 | OVERBOUGHT | The high RSI value suggests FET may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.64 | POSITIVE | The MACD value suggests FET has a positive trend. |
| Stochastics (14,3) | 92.63 | OVERBOUGHT | The high Stochastics value suggests FET may be overbought. |
| Average True Range in percent/ATR (20) | 4.31 | MEDIUM VOLATILITY | The ATR as a percentage value for FET suggests some volalility. |
| Average Directional Index/ADX (14) | 57.54 | POSITIVE | The high ADX value value for FET suggests a strong trend. |
57.86
+4.83 (+9.11%)
FORUM ENERGY TECHNOLOGIES IN / FET FAQ
What is the ChartMill technical rating of FORUM ENERGY TECHNOLOGIES IN (FET) stock?
ChartMill assigns a technical rating of 10 / 10 to FET.
What is the current trend direction of FORUM ENERGY TECHNOLOGIES IN (FET) stock?
The current trend direction for FORUM ENERGY TECHNOLOGIES IN (FET) is Bullish.
What is the RSI signal for FORUM ENERGY TECHNOLOGIES IN (FET) stock?
FORUM ENERGY TECHNOLOGIES IN (FET) has an RSI value of 82.8252. This indicates that the stock is currently overbought.
What is the short term momentum for FET stock?
The short term momentum for FORUM ENERGY TECHNOLOGIES IN (FET) is positive.
What is the buy/sell signal for FORUM ENERGY TECHNOLOGIES IN (FET) stock?
The buy/sell signal for FORUM ENERGY TECHNOLOGIES IN (FET) is buy as both the short term and long term trends are positive.