FLEX LNG LTD (FLNG) Stock Technical Analysis
NYSE:FLNG - New York Stock Exchange, Inc. - BMG359472021 - Common Stock - Currency: USD
Taking everything into account, FLNG scores 3 out of 10 in our technical rating. FLNG's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, FLNG 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 23.55, a Stop Loss order could be placed below this zone.
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23.10
When analyzing the support we notice one important area.
- A support zone ranging from 23.33 to 23.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 24.02 to 25.23. This zone is formed by a combination of multiple trend lines and important moving averages 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 | 38.94 | NEUTRAL | FLNG is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of FLNG is below 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 | NEGATIVE | The current price of FLNG is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 47.3 | NEUTRAL | The RSI value for FLNG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests FLNG has a negative trend. |
| Stochastics (14,3) | 51.37 | NEUTRAL | The Stochastics value for FLNG is a neutral value. |
| Average True Range in percent/ATR (20) | 2.73 | MEDIUM VOLATILITY | The ATR as a percentage value for FLNG suggests some volalility. |
| Average Directional Index/ADX (14) | 19.99 | NEGATIVE | The low ADX value for FLNG suggests a weak or negative trend. |
23.62
-0.02 (-0.08%)