H Technical Analysis - HYDRO ONE LTD

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to H. H'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.

When comparing the yearly performance of all stocks, H is a bad performer in the overall market: 65% of all stocks are doing better.

H is one of the lesser performing stocks in the Electric Utilities industry. 100% of 19 stocks in the same industry do better.

H has an average volume of 1058180 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Both the short term and long term trends are neutral. So this is not the most entertaining stock around.

H is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so H is lagging the market.

In the last month H has a been trading in a tight range between 47.54 and 49.54.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, H does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 49.07. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 48.99, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

43.13

54.02

When analyzing the support we can see 3 important areas.

A support zone ranging from 48.03 to 48.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @45.63 from a trend line in the weekly time frame.
Support @43.57 from a horizontal line in the weekly time frame.

2 important resistance areas can be observed.

A resistance zone ranging from 49.07 to 49.24. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @53.49 from a horizontal line in the daily time frame.

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What is Support and Resistance

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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 H.CA is neutral.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for H.CA is neutral.
ChartMill Relative Strength	35.22	NEUTRAL	H.CA is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of H.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of H.CA is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of H.CA is above the rising SMA(200).
Relative Strength Index/RSI (14)	50.98	NEUTRAL	The RSI value for H.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.08	POSITIVE	The MACD value suggests H.CA has a positive trend.
Stochastics (14,3)	78.7	NEUTRAL	The Stochastics value for H.CA is a neutral value.
Average True Range in percent/ATR (20)	1.21	LOW VOLATILITY	The low ATR as a percentage value for H.CA suggests low volalility.
Average Directional Index/ADX (14)	9.87	NEGATIVE	The low ADX value for H.CA suggests a weak or negative trend.