GOLDEN OCEAN GROUP LTD (GOGL) Stock Technical Analysis
USA - NASDAQ:GOGL - BMG396372051 - Common Stock
Taking everything into account, GOGL scores 2 out of 10 in our technical rating. GOGL scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
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
7.10
4 important support areas can be observed.
- 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.
When analyzing the resistance we notice 3 important 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.
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. |
7.98
-0.22 (-2.68%)
GOLDEN OCEAN GROUP LTD / GOGL FAQ
What is the ChartMill technical rating of GOLDEN OCEAN GROUP LTD (GOGL) stock?
ChartMill assigns a technical rating of 2 / 10 to GOGL.
What is the current trend direction of GOLDEN OCEAN GROUP LTD (GOGL) stock?
The current trend direction for GOLDEN OCEAN GROUP LTD (GOGL) is Bearish.
What is the RSI signal for GOGL stock?
GOLDEN OCEAN GROUP LTD (GOGL) has an RSI value of 44.4873. This indicates that the stock is currently neutral.
What is the MACD signal for GOLDEN OCEAN GROUP LTD (GOGL) stock?
The MACD indicator for GOLDEN OCEAN GROUP LTD (GOGL) has a value of -0.0911074, indicating a bearish trend.
What is the short term momentum for GOGL stock?
The short term momentum for GOLDEN OCEAN GROUP LTD (GOGL) is neutral.