Taking everything into account, HOFT scores 7 out of 10 in our technical rating. Although HOFT is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
HOFT 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. There is a resistance zone just above the current price starting at 11.77. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.94, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
8.50
We found 4 important support areas.
- A support zone ranging from 10.67 to 10.94. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 10.40 to 10.48. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.07 from a trend line in the daily time frame.
- Support @8.59 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 11.77 to 11.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @12.07 from a horizontal line in the daily 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 | UP | POSITIVE | The long term trend for HOFT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HOFT is up. |
| ChartMill Relative Strength | 24.21 | NEGATIVE | HOFT has a low relative strength, it was outperformed by 75.79% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HOFT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HOFT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of HOFT is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.66 | NEUTRAL | The RSI value for HOFT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests HOFT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 78.15 | NEUTRAL | The Stochastics value for HOFT is a neutral value. |
| Average True Range in percent/ATR (20) | 6.25 | HIGH VOLATILITY | The high ATR as a percentage value for HOFT suggests high volalility. |
| Average Directional Index/ADX (14) | 21.26 | NEUTRAL | The ADX value for HOFT suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 11.85 | 10.66 | 1.19 (10.04%) | 9.96% |
| An entry @11.85. This is a Buy Stop order right above the resistance zone. | An exit @10.66. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.19 points, which is 10.04%. | When investing 9.96% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
11.22
+0.09 (+0.81%)
HOOKER FURNISHINGS CORP / HOFT FAQ
What is the technical rating for HOFT stock?
ChartMill assigns a technical rating of 7 / 10 to HOFT.
What is the current trend direction of HOOKER FURNISHINGS CORP (HOFT) stock?
The current trend direction for HOOKER FURNISHINGS CORP (HOFT) is Bullish.
What is the RSI signal for HOOKER FURNISHINGS CORP (HOFT) stock?
HOOKER FURNISHINGS CORP (HOFT) has an RSI value of 57.6573. This indicates that the stock is currently neutral.
Can you provide the MACD signal for HOOKER FURNISHINGS CORP?
The MACD indicator for HOOKER FURNISHINGS CORP (HOFT) has a value of -0.00226731, indicating a bearish trend.
What are the support and resistance levels for HOOKER FURNISHINGS CORP (HOFT) stock?
HOOKER FURNISHINGS CORP (HOFT) has a support level at 10.94 and a resistance level at 11.77. Check the full technical report for our detailed analysis of HOFT support and resistance levels.