We assign a technical rating of 7 out of 10 to HOPE. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, HOPE is a bad performer.
Besides having an excellent technical rating, HOPE 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. There is a support zone below the current price at 10.90, a Stop Loss order could be placed below this zone.
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9.60
2 important support areas can be observed.
- A support zone ranging from 10.50 to 10.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.70 to 9.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 11.42 to 11.66. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 HOPE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HOPE is up. |
| ChartMill Relative Strength | 32.59 | NEUTRAL | HOPE is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HOPE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HOPE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of HOPE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.05 | NEUTRAL | The RSI value for HOPE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests HOPE has a negative trend. |
| Stochastics (14,3) | 51.99 | NEUTRAL | The Stochastics value for HOPE is a neutral value. |
| Average True Range in percent/ATR (20) | 2.01 | MEDIUM VOLATILITY | The ATR as a percentage value for HOPE suggests some volalility. |
| Average Directional Index/ADX (14) | 31.9 | POSITIVE | The high ADX value value for HOPE suggests a strong 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 |
|---|---|---|---|
| 11.43 | 11.20 | 0.23 (2.04%) | 25.00% |
| An entry @11.43. This is a Buy Stop order right above the 10 day moving average. | An exit @11.20. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.23 points, which is 2.04%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.51%. |
- The distance between exit and entry is rather small compared to the average daily movement of HOPE. 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.
11.25
-0.03 (-0.27%)
HOPE BANCORP INC / HOPE FAQ
What is the technical rating for HOPE stock?
ChartMill assigns a technical rating of 7 / 10 to HOPE.
Can you provide the trend direction for HOPE BANCORP INC?
The current trend direction for HOPE BANCORP INC (HOPE) is Bullish.
What is the RSI signal for HOPE BANCORP INC (HOPE) stock?
HOPE BANCORP INC (HOPE) has an RSI value of 56.0534. This indicates that the stock is currently neutral.
What is the MACD signal for HOPE BANCORP INC (HOPE) stock?
The MACD indicator for HOPE BANCORP INC (HOPE) has a value of -0.0298723, indicating a bearish trend.
What is the support and resistance level for HOPE stock?
HOPE BANCORP INC (HOPE) has a support level at 10.9 and a resistance level at 11.42. Check the full technical report for our detailed analysis of HOPE support and resistance levels.