Market Vectors Generic Drugs Et (GNRX) Stock Technical Analysis
USA - NASDAQ:GNRX -
Overall GNRX gets a technical rating of 1 out of 10. GNRX's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, GNRX does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 22.43. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.27, a Stop Loss order could be placed below this zone.
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19.98
When analyzing the support we can see 3 important areas.
- A support zone ranging from 21.95 to 22.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @20.56 from a horizontal line in the weekly time frame.
- Support @20.18 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 22.43 to 22.57. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @23.30 from a horizontal line in the weekly time frame.
- Resistance @25.53 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 | DOWN | NEGATIVE | The long term trend for GNRX is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GNRX is neutral. |
| ChartMill Relative Strength | 25.86 | NEGATIVE | GNRX has a low relative strength, it was outperformed by 74.14% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GNRX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of GNRX is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GNRX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.14 | NEUTRAL | The RSI value for GNRX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests GNRX has a positive trend. |
| Stochastics (14,3) | 68.04 | NEUTRAL | The Stochastics value for GNRX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.06 | LOW VOLATILITY | The low ATR as a percentage value for GNRX suggests low volalility. |
Market Vectors Generic Drugs Et
NASDAQ:GNRX (4/4/2019, 8:31:00 PM)
22.416
-0.01 (-0.06%)