GOLDEN OCEAN GROUP LTD (GOGL) Stock Technical Analysis
NASDAQ:GOGL - Nasdaq - BMG396372051 - Common Stock - Currency: USD
Overall GOGL gets a technical rating of 1 out of 10. 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 long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, GOGL is a bad performer in the overall market: 89% of all stocks are doing better.
GOGL is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so GOGL is lagging the market.
GOGL has an average volume of 3473740 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
GOGL is an average performer in the Marine Transportation industry, it outperforms 54% of 32 stocks in the same industry.
In the last month GOGL has a been trading in the 7.04 - 8.13 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, GOGL does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 7.85. Right above this resistance zone may be a good entry point.
More info and screens
7.09
8.16
We found 3 important support areas.
- A support zone ranging from 7.54 to 7.67. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @7.38 from a trend line in the daily time frame.
- A support zone ranging from 7.16 to 7.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 7.85 to 7.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 8.07 to 8.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 GOGL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GOGL is neutral. |
| ChartMill Relative Strength | 11.19 | NEGATIVE | GOGL has a low relative strength, it was outperformed by 88.81% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GOGL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of GOGL is above a declining 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) | 51.57 | NEUTRAL | The RSI value for GOGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests GOGL has a positive trend. |
| Stochastics (14,3) | 63.39 | NEUTRAL | The Stochastics value for GOGL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.99 | MEDIUM VOLATILITY | The ATR as a percentage value for GOGL suggests some volalility. |
| Average Directional Index/ADX (14) | 10.93 | 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)
7.7
-0.04 (-0.52%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMarine Transportation
Performance
% Chg-0.52%
1 Week0%
2 Weeks7.39%
1 Month0.92%
3 Month-12.2%
6 Month-19.46%
12 Month-42.58%
2 Year1.99%
3 Year-33.85%
5 Year98.45%
10 Year-60%
15 YearN/A
Volatility
ATR(14)0.23
ATR(20)%2.99%
ATR Inc-36.46%
Range Today0.18
ADR(20)0.18
ADR(20)%2.37%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS11.19
Mansfield-2.82
10 Day High7.84
10 Day Low7.05
20 Day High8.13
20 Day Low7.05
52 Week High14.29
52 Week Low6.27
CS1 End7.67
CR1 Start7.85
Volume & EV
DER(3)-2.66%
DER(5)-2.68%
Volume1.38M
Volume Incr-17.55%
Vol(5)1.91M
Vol(50)3.47M