GRANITE RIDGE RESOURCES INC (GRNT) Technical Analysis
NYSE:GRNT • US3874321074
Overall GRNT gets a technical rating of 3 out of 10. GRNT'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.
- 72% of all other stocks performed better in the past year than GRNT.
- GRNT is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 83% of 207 stocks in the same industry do better.
- In the last month GRNT has a been trading in the 4.70 - 5.44 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- GRNT is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so GRNT is lagging the market slightly.
- Volume is considerably higher in the last couple of days.
Although the technical rating is bad, GRNT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 5.11, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GRNT in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
4.95
We found 2 important support areas.
- A support zone ranging from 5.10 to 5.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 5.00 to 5.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 5.12 to 5.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @5.56 from a horizontal line in the daily time frame.
- Resistance @5.95 from a trend line in the weekly 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 GRNT is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GRNT is neutral. |
| ChartMill Relative Strength | 28.81 | NEGATIVE | GRNT has a low relative strength, it was outperformed by 71.19% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of GRNT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GRNT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GRNT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.69 | NEUTRAL | The RSI value for GRNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests GRNT has a negative trend. |
| Stochastics (14,3) | 50 | NEUTRAL | The Stochastics value for GRNT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.65 | MEDIUM VOLATILITY | The ATR as a percentage value for GRNT suggests some volalility. |
| Average Directional Index/ADX (14) | 17.72 | NEGATIVE | The low ADX value for GRNT suggests a weak or negative trend. |
GRNT Technicals: Chart, Performance Metrics, Trend & Indicators
5.12
+0.05 (+0.99%)
GRANITE RIDGE RESOURCES INC / GRNT FAQ
Can you provide the ChartMill technical rating for GRANITE RIDGE RESOURCES INC?
ChartMill assigns a technical rating of 3 / 10 to GRNT.
What is the current trend direction of GRANITE RIDGE RESOURCES INC (GRNT) stock?
The current trend direction for GRANITE RIDGE RESOURCES INC (GRNT) is Bearish.
Can you provide the RSI signal for GRANITE RIDGE RESOURCES INC?
GRANITE RIDGE RESOURCES INC (GRNT) has an RSI value of 51.6886. This indicates that the stock is currently neutral.
What is the short term momentum for GRNT stock?
The short term momentum for GRANITE RIDGE RESOURCES INC (GRNT) is neutral.
Can you provide the support and resistance levels for GRANITE RIDGE RESOURCES INC?
GRANITE RIDGE RESOURCES INC (GRNT) has a support level at 5.11 and a resistance level at 5.12. Check the full technical report for our detailed analysis of GRNT support and resistance levels.