We assign a technical rating of 10 out of 10 to GDP. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GDP is showing a nice and steady performance.
GDP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
13.30
When analyzing the support we can see 4 important areas.
- A support zone ranging from 20.42 to 20.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @20.06 from a horizontal line in the daily time frame.
- Support @19.41 from a trend line in the weekly time frame.
- Support @13.43 from a trend line in the weekly 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 | UP | POSITIVE | The long term trend for GDP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GDP is up. |
| ChartMill Relative Strength | 96.63 | POSITIVE | GDP has a high relative strength, it outperformed 96.63% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of GDP is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GDP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GDP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.05 | NEUTRAL | The RSI value for GDP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests GDP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 25.57 | NEUTRAL | The Stochastics value for GDP is a neutral value. |
| Average True Range in percent/ATR (20) | 0.38 | LOW VOLATILITY | The low ATR as a percentage value for GDP suggests low volalility. |
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 |
|---|---|---|---|
| 23.03 | 22.93 | 0.10 (0.43%) | 25.00% |
| An entry @23.03. This is a Buy Stop order right above the 10 day high. | An exit @22.93. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.10 points, which is 0.43%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.11%. |
- 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.
Goodrich Petroleum Corporation
NYSEARCA:GDP (12/22/2021, 8:20:48 PM)
After market: 22.99 -0.03 (-0.13%)23.02
+0.05 (+0.22%)
Goodrich Petroleum Corporation / GDP FAQ
What is the technical rating for GDP stock?
ChartMill assigns a technical rating of 9 / 10 to GDP.
Can you provide the trend direction for Goodrich Petroleum Corporation?
The current trend direction for Goodrich Petroleum Corporation (GDP) is Bullish.
What is the RSI signal for Goodrich Petroleum Corporation (GDP) stock?
Goodrich Petroleum Corporation (GDP) has an RSI value of 59.0452. This indicates that the stock is currently neutral.
What is the MACD signal for Goodrich Petroleum Corporation (GDP) stock?
The MACD indicator for Goodrich Petroleum Corporation (GDP) has a value of -0.0540972, indicating a bearish trend.
What is the short term momentum for GDP stock?
The short term momentum for Goodrich Petroleum Corporation (GDP) is positive.