GOLDEN OCEAN GROUP LTD (GOGL) Stock Technical Analysis
NASDAQ:GOGL - Nasdaq - BMG396372051 - Common Stock - Currency: USD
Overall GOGL gets a technical rating of 4 out of 10. In the past year, GOGL was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
87% 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.
GOGL is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
GOGL has an average volume of 2440970 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
GOGL is an average performer in the Marine Transportation industry, it outperforms 48% of 36 stocks in the same industry.
GOGL has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 8.27. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for GOGL in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
7.09
8.50
We found 3 important support areas.
- A support zone ranging from 7.78 to 7.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 7.47 to 7.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
- 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 one important area.
- A resistance zone ranging from 8.27 to 8.42. 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 | UP | POSITIVE | The short term trend for GOGL is up. |
| ChartMill Relative Strength | 13.51 | NEGATIVE | GOGL has a low relative strength, it was outperformed by 86.49% 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) | 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) | 56.58 | NEUTRAL | The RSI value for GOGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests GOGL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.22 | OVERBOUGHT | The high Stochastics value suggests GOGL may be overbought. |
| Average True Range in percent/ATR (20) | 2.73 | MEDIUM VOLATILITY | The ATR as a percentage value for GOGL suggests some volalility. |
| Average Directional Index/ADX (14) | 16.99 | 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)
8.17
-0.06 (-0.73%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMarine Transportation
Performance
% Chg-0.73%
1 Week-0.97%
2 Weeks2.9%
1 Month7.08%
3 Month5.15%
6 Month-8.1%
12 Month-34.54%
2 Year4.21%
3 Year-25.18%
5 Year112.76%
10 Year-57.99%
15 YearN/A
Volatility
ATR(14)0.25
ATR(20)%2.73%
ATR Inc-29.4%
Range Today0.16
ADR(20)0.21
ADR(20)%2.53%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS13.51
Mansfield-2.08
10 Day High8.42
10 Day Low7.76
20 Day High8.42
20 Day Low7.26
52 Week High13.44
52 Week Low6.27
CS1 End7.97
CR1 Start8.27
Volume & EV
DER(3)8.7%
DER(5)4.41%
Volume3.58M
Volume Incr33.85%
Vol(5)3.35M
Vol(50)2.44M