Goodrich Petroleum Corporation (GDP) Stock Technical Analysis
NYSEARCA:GDP - NYSE Arca - Common Stock
Taking everything into account, GDP scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, GDP has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
Looking at the yearly performance, GDP did better than 96% of all other stocks. On top of that, GDP also shows a nice and consistent pattern of rising prices.
GDP is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 97% of 213 stocks in the same industry.
GDP is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so GDP is performing more or less in line with the market.
In the last month GDP has a been trading in a tight range between 22.92 and 23.20.
GDP has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. Another positive sign is the recent Pocket Pivot signal.
- 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
23.25
We found 4 important support 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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 trade has a worst case loss of 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%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg0.22%
1 Week0.13%
2 Weeks0.35%
1 Month-0.13%
3 Month9.2%
6 Month59.31%
12 Month123.93%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.07
ATR(20)%0.38%
ATR Inc-35.19%
Range Today0.05
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.63
Mansfield3.99
10 Day High23.02
10 Day Low22.94
20 Day High23.2
20 Day Low22.92
52 Week High26.66
52 Week Low8.61
CS1 End20.43
CR1 StartN/A
Volume & EV
DER(3)-3.4%
DER(5)-2.26%
Volume148.40K
Volume Incr-44.06%
Vol(5)139.04K
Vol(50)156.62K