MS FANG+ 3X LEVERAGED ETN (FNGB) Stock Technical Analysis
NYSEARCA:FNGB - NYSE Arca - US0636793855 - ETF - Currency: USD
We assign a technical rating of 6 out of 10 to FNGB. FNGB has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
Although the technical rating is only medium, FNGB does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 21.30. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.77, a Stop Loss order could be placed below this zone.
More info and screens
20.47
When analyzing the support we notice one important area.
- A support zone ranging from 20.68 to 20.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 21.30 to 21.69. This zone is formed by a combination of multiple trend lines and important moving averages 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 FNGB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FNGB is up. |
| ChartMill Relative Strength | 0 | NEGATIVE | FNGB has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FNGB is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FNGB is above the rising SMA(50). |
| Relative Strength Index/RSI (14) | 61.68 | NEUTRAL | The RSI value for FNGB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.23 | NEGATIVE | The MACD value suggests FNGB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 65.11 | NEUTRAL | The Stochastics value for FNGB is a neutral value. |
| Average True Range in percent/ATR (20) | 4.34 | MEDIUM VOLATILITY | The ATR as a percentage value for FNGB suggests some volalility. |
| Average Directional Index/ADX (14) | 24.31 | NEUTRAL | The ADX value for FNGB suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 21.70 | 20.67 | 1.03 (4.75%) | 21.07% |
| An entry @21.70. This is a Buy Stop order right above the resistance zone. | An exit @20.67. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.03 points, which is 4.75%. | When investing 21.07% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of FNGB. 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.
21.28
+0.6 (+2.9%)