FIRST TRUST NEW OPPORTUNITIE (FPL) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:FPL - US33739M1009
Taking everything into account, FPL scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, FPL is showing a nice and steady performance.
Besides having an excellent technical rating, FPL also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 7.77. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.72, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FPL in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
5.45
6 important support areas can be observed.
- A support zone ranging from 7.59 to 7.72. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 7.14 to 7.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @6.98 from a horizontal line in the daily time frame.
- A support zone ranging from 6.64 to 6.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @6.05 from a trend line in the weekly time frame.
- Support @5.50 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 7.77 to 7.77. 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 FPL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FPL is up. |
| ChartMill Relative Strength | 83.62 | POSITIVE | FPL has a high relative strength, it outperformed 83.62% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FPL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FPL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FPL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.44 | NEUTRAL | The RSI value for FPL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests FPL has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 88.84 | OVERBOUGHT | The high Stochastics value suggests FPL may be overbought. |
| Average True Range in percent/ATR (20) | 1.24 | LOW VOLATILITY | The low ATR as a percentage value for FPL suggests low volalility. |
| Average Directional Index/ADX (14) | 24.59 | NEUTRAL | The ADX value for FPL 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 |
|---|---|---|---|
| 7.78 | 7.58 | 0.20 (2.57%) | 25.00% |
| An entry @7.78. This is a Buy Stop order right above the resistance zone. | An exit @7.58. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.20 points, which is 2.57%. | For a 0.64% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
NYSE:FPL (5/3/2024, 8:04:00 PM)
7.76
+0.01 (+0.19%)
FIRST TRUST NEW OPPORTUNITIE / FPL FAQ
What is the technical rating for FPL stock?
ChartMill assigns a technical rating of 10 / 10 to FPL.
Can you provide the trend direction for FIRST TRUST NEW OPPORTUNITIE?
The current trend direction for FIRST TRUST NEW OPPORTUNITIE (FPL) is Bullish.
What is the RSI signal for FPL stock?
FIRST TRUST NEW OPPORTUNITIE (FPL) has an RSI value of 64.4433. This indicates that the stock is currently neutral.
What is the MACD signal for FIRST TRUST NEW OPPORTUNITIE (FPL) stock?
The MACD indicator for FIRST TRUST NEW OPPORTUNITIE (FPL) has a value of -0.000464274, indicating a bearish trend.
What is the support and resistance level for FPL stock?
FIRST TRUST NEW OPPORTUNITIE (FPL) has a support level at 7.72 and a resistance level at 7.77. Check the full technical report for our detailed analysis of FPL support and resistance levels.