GRANITE RIDGE RESOURCES INC (GRNT) Technical Analysis
NYSE:GRNT • US3874321074
Current stock price
GRNT Technical Rating and Analysis
Taking everything into account, GRNT scores 8 out of 10 in our technical rating. Although GRNT is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- GRNT is part of the Oil, Gas & Consumable Fuels industry. There are 209 other stocks in this industry, of which 62% are performing better than GRNT.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, GRNT did better than 75% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- GRNT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so GRNT is lagging the market.
- In the last month GRNT has a been trading in the 5.02 - 6.08 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
GRNT Weekly and Daily overview Charts
GRNT Setup Rating and Analysis
GRNT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. 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
GRNT Support and Resistance Analysis
4.85
When analyzing the support we can see 5 important areas.
- Support @5.51 from a trend line in the daily time frame.
- Support @5.40 from a horizontal line in the daily time frame.
- Support @5.21 from a trend line in the daily time frame.
- A support zone ranging from 5.01 to 5.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @4.90 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 5.79 to 5.89. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @6.04 from a horizontal line in the daily time frame.
GRNT 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 | UP | POSITIVE | The long term trend for GRNT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GRNT is up. |
| ChartMill Relative Strength | 75.14 | POSITIVE | GRNT has a high relative strength, it outperformed 75.14% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of GRNT is below the rising 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 | MIXED | The current price of GRNT is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.01 | NEUTRAL | The RSI value for GRNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests GRNT has a negative trend. |
| Stochastics (14,3) | 41.61 | NEUTRAL | The Stochastics value for GRNT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.18 | MEDIUM VOLATILITY | The ATR as a percentage value for GRNT suggests some volalility. |
| Average Directional Index/ADX (14) | 17.03 | NEGATIVE | The low ADX value for GRNT suggests a weak or negative trend. |
GRNT Chart- and CandleStick Pattern Analysis
GRNT Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 5.90 | 5.50 | 0.40 (6.78%) | 14.75% |
| An entry @5.90. This is a Buy Stop order right above the resistance zone. | An exit @5.50. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.40 points, which is 6.78%. | For a 1.00% total portfolio risk, you can invest 14.75% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
GRNT Technicals: Chart, Performance Metrics, Trend & Indicators
5.57
-0.05 (-0.89%)
GRANITE RIDGE RESOURCES INC / GRNT TA FAQ
Can you provide the ChartMill technical rating for GRANITE RIDGE RESOURCES INC?
ChartMill assigns a technical rating of 8 / 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 Bullish.
What is the RSI signal for GRNT stock?
GRANITE RIDGE RESOURCES INC (GRNT) has an RSI value of 51.0079. This indicates that the stock is currently neutral.
Can you provide the MACD signal for GRANITE RIDGE RESOURCES INC?
The MACD indicator for GRANITE RIDGE RESOURCES INC (GRNT) has a value of -0.029008, indicating a bearish trend.
What is the buy/sell signal for GRNT stock?
The buy/sell signal for GRANITE RIDGE RESOURCES INC (GRNT) is buy as both the short term and long term trends are positive.