GOLDEN OCEAN GROUP LTD (GOGL) Stock Technical Analysis
NASDAQ:GOGL - Nasdaq - BMG396372051 - Common Stock - Currency: USD
We assign a technical rating of 5 out of 10 to GOGL. In the last year, GOGL was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
When comparing the yearly performance of all stocks, GOGL is a bad performer in the overall market: 87% of all stocks are doing better.
GOGL 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.
In the last month GOGL has a been trading in the 8.07 - 9.05 range, which is quite wide. It is currently trading near the lows of this range.
GOGL has an average volume of 2697590 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
GOGL is part of the Marine Transportation industry. There are 36 other stocks in this industry, GOGL did better than 48% of them.
GOGL has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
7.09
9.09
We found 3 important support areas.
- Support @7.77 from a trend line in the daily time frame.
- Support @7.47 from a horizontal line in the weekly time frame.
- A support zone ranging from 7.16 to 7.17. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 8.35 to 8.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @8.68 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 8.90 to 9.00. This zone is formed by a combination of multiple trend lines 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 | NEUTRAL | NEUTRAL | The long term trend for GOGL is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GOGL is neutral. |
| ChartMill Relative Strength | 13.73 | NEGATIVE | GOGL has a low relative strength, it was outperformed by 86.27% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of GOGL is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GOGL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GOGL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 48.12 | NEUTRAL | The RSI value for GOGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests GOGL has a negative trend. |
| Stochastics (14,3) | 20.43 | NEUTRAL | The Stochastics value for GOGL is a neutral value. |
| Average True Range in percent/ATR (20) | 3 | MEDIUM VOLATILITY | The ATR as a percentage value for GOGL suggests some volalility. |
| Average Directional Index/ADX (14) | 18.98 | NEGATIVE | The low ADX value for GOGL suggests a weak or negative trend. |
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)
8.27
-0.14 (-1.66%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMarine Transportation
Performance
% Chg-1.66%
1 Week-8.01%
2 Weeks0%
1 Month1.85%
3 Month2.61%
6 Month-11.74%
12 Month-31.31%
2 Year13.13%
3 Year-13.76%
5 Year104.2%
10 Year-45.77%
15 YearN/A
Volatility
ATR(14)0.27
ATR(20)%3%
ATR Inc-1.78%
Range Today0.25
ADR(20)0.24
ADR(20)%2.86%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS13.73
Mansfield-1.94
10 Day High9.05
10 Day Low8.12
20 Day High9.05
20 Day Low8.07
52 Week High13.44
52 Week Low6.27
CS1 End7.77
CR1 Start8.35
Volume & EV
DER(3)2.44%
DER(5)1.14%
Volume1.58M
Volume Incr-29.69%
Vol(5)2.45M
Vol(50)2.70M