GFR Technical Analysis - GREENFIRE RESOURCES LTD

Technical Rating and Analysis

Overall GFR gets a technical rating of 3 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. GFR was also a bad performer in the overall market in the last year.

81% of all other stocks performed better in the past year than GFR.

GFR is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 71% of 208 stocks in the same industry do better.

GFR is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.

In the last month GFR has a been trading in the 4.14 - 5.04 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

GREENFIRE RESOURCES LTD / GFR Weekly stock chart

GREENFIRE RESOURCES LTD / GFR Daily stock chart

Setup Rating and Analysis

The technical rating of GFR is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

4.15

5.22

We found 2 important support areas.

A support zone ranging from 4.30 to 4.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @4.19 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 5.01 to 5.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @5.17 from a horizontal line in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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	NEUTRAL	NEUTRAL	The long term trend for GFR is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for GFR is up.
ChartMill Relative Strength	19.29	NEGATIVE	GFR has a low relative strength, it was outperformed by 80.71% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of GFR is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of GFR is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of GFR is below a declining SMA(200).
Relative Strength Index/RSI (14)	65.11	NEUTRAL	The RSI value for GFR is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.06	POSITIVE	The MACD value suggests GFR has a positive trend.
Stochastics (14,3)	83.96	OVERBOUGHT	The high Stochastics value suggests GFR may be overbought.
Average True Range in percent/ATR (20)	4.77	MEDIUM VOLATILITY	The ATR as a percentage value for GFR suggests some volalility.
Average Directional Index/ADX (14)	15.71	NEGATIVE	The low ADX value for GFR suggests a weak or negative trend.