FLEX LTD (FLEX) Stock Technical Analysis
NASDAQ:FLEX - Nasdaq - SG9999000020 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to FLEX. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, FLEX is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
FLEX is one of the better performing stocks in the Electronic Equipment, Instruments & Components industry, it outperforms 71% of 125 stocks in the same industry.
FLEX is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so FLEX is performing more or less in line with the market.
In the last month FLEX has a been trading in the 33.35 - 42.50 range, which is quite wide. It is currently trading near the high of this range.
FLEX has an average volume of 4114050 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that FLEX is one of the better performing stocks in the market, outperforming 85% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
Besides having an excellent technical rating, FLEX also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 41.69. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
26.82
44.91
When analyzing the support we can see 2 important areas.
- A support zone ranging from 41.17 to 41.47. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @27.09 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 41.69 to 42.19. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 44.28 to 44.47. 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 FLEX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FLEX is up. |
| ChartMill Relative Strength | 85.73 | POSITIVE | FLEX has a high relative strength, it outperformed 85.73% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FLEX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FLEX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FLEX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 67.61 | NEUTRAL | The RSI value for FLEX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests FLEX has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.01 | OVERBOUGHT | The high Stochastics value suggests FLEX may be overbought. |
| Average True Range in percent/ATR (20) | 3.31 | MEDIUM VOLATILITY | The ATR as a percentage value for FLEX suggests some volalility. |
| Average Directional Index/ADX (14) | 32.33 | POSITIVE | The high ADX value value for FLEX 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 |
|---|---|---|---|
| 42.20 | 41.16 | 1.04 (2.46%) | 25.00% |
| An entry @42.20. This is a Buy Stop order right above the resistance zone. | An exit @41.16. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.04 points, which is 2.46%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.62%. |
- The distance between exit and entry is rather small compared to the average daily movement of FLEX. Please evaluate whether better entry and exit points can be found.
- 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.
41.48
+0.04 (+0.1%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryElectronic Equipment, Instruments & Components
Performance
% Chg0.1%
1 Week-1.29%
2 Weeks7.8%
1 Month17.77%
3 Month2.78%
6 Month0.44%
12 Month25.05%
2 Year63.37%
3 Year143%
5 Year327.19%
10 Year241.4%
15 Year532.32%
Volatility
ATR(14)1.36
ATR(20)%3.31%
ATR Inc-30.77%
Range Today1.38
ADR(20)1.22
ADR(20)%2.95%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS85.73
Mansfield1.58
10 Day High42.5
10 Day Low39.82
20 Day High42.5
20 Day Low33.35
52 Week High45.1
52 Week Low25.11
CS1 End41.47
CR1 Start41.69
Volume & EV
DER(3)-3.2%
DER(5)-0.99%
Volume2.82M
Volume Incr-23.02%
Vol(5)3.30M
Vol(50)4.11M