GRANITE RIDGE RESOURCES INC (GRNT) Stock Technical Analysis
NYSE:GRNT • US3874321074
Overall GRNT gets a technical rating of 4 out of 10. In the past year, GRNT 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.
- 79% of all other stocks performed better in the past year than GRNT.
- GRNT is part of the Oil, Gas & Consumable Fuels industry. There are 206 other stocks in this industry, of which 79% are performing better than GRNT.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- GRNT 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.
- 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.
GRNT has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 4.91, a Stop Loss order could be placed below this zone.
More info and screens
4.77
We found 1 important support area.
- A support zone ranging from 4.82 to 4.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
7 important resistance areas can be observed.
- A resistance zone ranging from 5.07 to 5.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @5.27 from a trend line in the daily time frame.
- A resistance zone ranging from 5.39 to 5.40. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @5.56 from a horizontal line in the daily time frame.
- A resistance zone ranging from 5.78 to 5.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @6.01 from a trend line in the weekly time frame.
- Resistance @6.87 from a horizontal 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 | UP | POSITIVE | The short term trend for GRNT is up. |
| ChartMill Relative Strength | 21.73 | NEGATIVE | GRNT has a low relative strength, it was outperformed by 78.27% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GRNT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of GRNT is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of GRNT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.57 | NEUTRAL | The RSI value for GRNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests GRNT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 66.15 | NEUTRAL | The Stochastics value for GRNT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.48 | MEDIUM VOLATILITY | The ATR as a percentage value for GRNT suggests some volalility. |
| Average Directional Index/ADX (14) | 25 | POSITIVE | The high ADX value value for GRNT suggests a strong trend. |
5.05
+0.15 (+3.06%)
GRANITE RIDGE RESOURCES INC / GRNT FAQ
Can you provide the ChartMill technical rating for GRANITE RIDGE RESOURCES INC?
ChartMill assigns a technical rating of 4 / 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 56.5742. 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 positive.
Can you provide the support and resistance levels for GRANITE RIDGE RESOURCES INC?
GRANITE RIDGE RESOURCES INC (GRNT) has a support level at 4.91 and a resistance level at 5.07. Check the full technical report for our detailed analysis of GRNT support and resistance levels.