TRADR 2X LONG GEV DAILY ETF (GEVX) Stock Technical Analysis
USA - NYSEARCA:GEVX - US46143U5184 - ETF
Overall GEVX gets a technical rating of 3 out of 10. In the last year, GEVX was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.
Although the technical rating is bad, GEVX does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 28.06, a Stop Loss order could be placed below this zone.
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27.18
When analyzing the support we notice one important area.
- A support zone ranging from 27.45 to 28.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- Resistance @32.97 from a trend line in the daily time frame.
- Resistance @33.83 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 | UP | POSITIVE | The long term trend for GEVX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GEVX is neutral. |
| ChartMill Relative Strength | 0 | NEGATIVE | GEVX 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 GEVX is above the rising SMA(20). |
| Relative Strength Index/RSI (14) | 51.69 | NEUTRAL | The RSI value for GEVX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.18 | NEGATIVE | The MACD value suggests GEVX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 55.97 | NEUTRAL | The Stochastics value for GEVX is a neutral value. |
| Average True Range in percent/ATR (20) | 7.51 | HIGH VOLATILITY | The high ATR as a percentage value for GEVX suggests high volalility. |
| Average Directional Index/ADX (14) | 16.11 | NEGATIVE | The low ADX value for GEVX suggests a weak or negative trend. |
31.68
+1.18 (+3.87%)