HSHP Technical Analysis - HIMALAYA SHIPPING LTD

Technical Rating and Analysis

We assign a technical rating of 8 out of 10 to HSHP. Although HSHP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

Both the short term and long term trends are positive. This is a very positive sign.

HSHP is part of the Marine Transportation industry. There are 35 other stocks in this industry. HSHP outperforms 91% of them.

HSHP is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month HSHP has a been trading in the 7.12 - 8.57 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, HSHP did better than 78% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

HIMALAYA SHIPPING LTD / HSHP Weekly stock chart

HIMALAYA SHIPPING LTD / HSHP Daily stock chart

Setup Rating and Analysis

Although HSHP has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

4.46

8.59

5 important support areas can be observed.

A support zone ranging from 7.78 to 7.88. 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 7.49 to 7.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 7.15 to 7.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @4.67 from a horizontal line in the weekly time frame.
Support @4.51 from a horizontal line in the daily time frame.

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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	UP	POSITIVE	The long term trend for HSHP is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for HSHP is up.
ChartMill Relative Strength	78.34	POSITIVE	HSHP has a high relative strength, it outperformed 78.34% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of HSHP is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of HSHP is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of HSHP is above the rising SMA(200).
Relative Strength Index/RSI (14)	75.05	OVERBOUGHT	The high RSI value suggests HSHP may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.05	POSITIVE	The MACD value suggests HSHP has a positive trend.
Stochastics (14,3)	85.74	OVERBOUGHT	The high Stochastics value suggests HSHP may be overbought.
Average True Range in percent/ATR (20)	2.22	MEDIUM VOLATILITY	The ATR as a percentage value for HSHP suggests some volalility.
Average Directional Index/ADX (14)	38.27	POSITIVE	The high ADX value value for HSHP suggests a strong trend.