GRANITE RIDGE RESOURCES INC (GRNT) Technical Analysis
NYSE:GRNT • US3874321074
Current stock price
GRNT Technical Rating and Analysis
We assign a technical rating of 7 out of 10 to GRNT. In the last year, GRNT was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
- GRNT is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 80% of 207 stocks in the same industry do better.
- The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- In the last month GRNT has a been trading in the 4.70 - 5.44 range, which is quite wide. It is currently trading near the high of this range.
- When comparing the performance of all stocks over the past year, GRNT turns out to be only a medium performer in the overall market: it outperformed 49% of all stocks.
- 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.
GRNT Weekly and Daily overview Charts
GRNT Setup Rating and Analysis
GRNT has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 5.30. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 5.27, 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. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
4.96
We found 2 important support areas.
- A support zone ranging from 5.17 to 5.27. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 5.01 to 5.05. 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 5.30 to 5.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @5.56 from a horizontal line in the daily time frame.
- Resistance @5.93 from a trend line in the weekly 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 | 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 | 49.34 | NEUTRAL | GRNT is not amongst the best or worst performers 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) | 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) | 56.71 | NEUTRAL | The RSI value for GRNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests GRNT has a positive trend. |
| Stochastics (14,3) | 80.18 | OVERBOUGHT | The high Stochastics value suggests GRNT may be overbought. |
| Average True Range in percent/ATR (20) | 4.38 | MEDIUM VOLATILITY | The ATR as a percentage value for GRNT suggests some volalility. |
| Average Directional Index/ADX (14) | 14.52 | 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 |
|---|---|---|---|
| 5.41 | 5.16 | 0.25 (4.62%) | 21.64% |
| An entry @5.41. This is a Buy Stop order right above the resistance zone. | An exit @5.16. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.25 points, which is 4.62%. | When investing 21.64% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of GRNT. Please evaluate whether better entry and exit points can be found.
- 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
5.29
-0.02 (-0.38%)
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 7 / 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 56.7066. 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 5.27 and a resistance level at 5.3. Check the full technical report for our detailed analysis of GRNT support and resistance levels.