FIDELITY MATERIALS ETF (FMAT) Stock Technical Analysis
NYSEARCA:FMAT - NYSE Arca - US3160928814 - ETF - Currency: USD
Taking everything into account, FMAT scores 4 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. FMAT was also a bad performer in the overall market in the last year.
FMAT has only a medium technical rating, but it does show a decent setup pattern. 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 resistance zone just above the current price starting at 48.86. Right above this resistance zone may be a good entry point.
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43.41
When analyzing the support we can see 2 important areas.
- A support zone ranging from 47.46 to 48.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 43.85 to 44.04. This zone is formed by a combination of multiple trend lines in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 48.86 to 49.20. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @50.37 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 FMAT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FMAT is up. |
| ChartMill Relative Strength | 39.14 | NEUTRAL | FMAT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FMAT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FMAT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of FMAT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.41 | NEUTRAL | The RSI value for FMAT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests FMAT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 61.69 | NEUTRAL | The Stochastics value for FMAT is a neutral value. |
| Average True Range in percent/ATR (20) | 1.4 | LOW VOLATILITY | The low ATR as a percentage value for FMAT suggests low volalility. |
| Average Directional Index/ADX (14) | 15.48 | NEGATIVE | The low ADX value for FMAT suggests a weak or negative trend. |
48.54
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