FLEX LNG LTD (FLNG) Stock Technical Analysis
NYSE:FLNG - New York Stock Exchange, Inc. - BMG359472021 - Common Stock - Currency: USD
Overall FLNG gets a technical rating of 4 out of 10. FLNG 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.
Although the technical rating is only medium, FLNG does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 24.76. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.41, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FLNG 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.
More info and screens
22.17
3 important support areas can be observed.
- A support zone ranging from 23.43 to 24.41. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @22.92 from a horizontal line in the weekly time frame.
- Support @22.39 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 24.76 to 25.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @26.91 from a horizontal 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 | NEUTRAL | NEUTRAL | The long term trend for FLNG is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for FLNG is neutral. |
| ChartMill Relative Strength | 56.14 | NEUTRAL | FLNG is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of FLNG is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FLNG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of FLNG is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.98 | NEUTRAL | The RSI value for FLNG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests FLNG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 63.51 | NEUTRAL | The Stochastics value for FLNG is a neutral value. |
| Average True Range in percent/ATR (20) | 2.76 | MEDIUM VOLATILITY | The ATR as a percentage value for FLNG suggests some volalility. |
| Average Directional Index/ADX (14) | 17.35 | NEGATIVE | The low ADX value for FLNG suggests a weak or negative trend. |
24.61
+0.46 (+1.9%)