GOGL Technical Analysis - GOLDEN OCEAN GROUP LTD

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to GOGL. GOGL'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.

86% of all other stocks performed better in the past year than GOGL.

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 7.74 - 9.05 range, which is quite wide. It is currently trading near the lows of this range.

GOGL has an average volume of 2738600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long and short term trends are both neutral. This gives a pretty neutral overall picture!

GOGL is an average performer in the Marine Transportation industry, it outperforms 50% of 35 stocks in the same industry.

More info and screens

Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

Show peers with best TA rating

Weekly and Daily overview Charts

GOLDEN OCEAN GROUP LTD / GOGL Weekly stock chart

GOLDEN OCEAN GROUP LTD / GOGL Daily stock chart

Setup Rating and Analysis

The technical rating of GOGL 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.

More info and screens

ChartMill Technical Ratings

Pocket Pivots

Bull Flags

Show peers with best setup rating

Support and Resistance Analysis

7.10

8.91

When analyzing the support we can see 4 important areas.

Support @7.97 from a horizontal line in the weekly time frame.
A support zone ranging from 7.76 to 7.83. This zone is formed by a combination of multiple trend lines in the daily time frame.
Support @7.53 from a trend line in the daily time frame.
Support @7.17 from a horizontal line in the daily time frame.

We can see 3 important resistance areas.

A resistance zone ranging from 8.24 to 8.42. 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.
Resistance @8.82 from a trend line in the daily time frame.

More info

What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

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 GOGL is neutral.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for GOGL is neutral.
ChartMill Relative Strength	14.55	NEGATIVE	GOGL has a low relative strength, it was outperformed by 85.45% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of GOGL is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of GOGL is below 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)	44.49	NEUTRAL	The RSI value for GOGL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.09	NEGATIVE	The MACD value suggests GOGL has a negative trend.
Stochastics (14,3)	24.43	NEUTRAL	The Stochastics value for GOGL is a neutral value.
Average True Range in percent/ATR (20)	3.47	MEDIUM VOLATILITY	The ATR as a percentage value for GOGL suggests some volalility.
Average Directional Index/ADX (14)	19.59	NEGATIVE	The low ADX value for GOGL suggests a weak or negative trend.