HUT 8 CORP (HUT) Stock Technical Analysis
NASDAQ:HUT • US44812J1043
We assign a technical rating of 9 out of 10 to HUT. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
- When comparing the yearly performance of all stocks, we notice that HUT is one of the better performing stocks in the market, outperforming 98% of all stocks. On top of that, HUT also shows a nice and consistent pattern of rising prices.
- HUT is part of the Software industry. There are 274 other stocks in this industry. HUT outperforms 98% of them.
- HUT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so HUT is lagging the market slightly.
- HUT has an average volume of 6141660 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month HUT has a been trading in the 43.81 - 66.07 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
HUT 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 support zone below the current price at 53.91, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HUT in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- 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
32.83
When analyzing the support we can see 8 important areas.
- A support zone ranging from 54.87 to 55.31. 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 53.05 to 53.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 50.96 to 51.68. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @48.23 from a trend line in the weekly time frame.
- Support @47.32 from a trend line in the daily time frame.
- Support @43.70 from a trend line in the daily time frame.
- Support @34.44 from a trend line in the weekly time frame.
- Support @33.16 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 HUT is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for HUT is neutral. |
| ChartMill Relative Strength | 98.24 | POSITIVE | HUT has a high relative strength, it outperformed 98.24% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of HUT is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HUT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of HUT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.52 | NEUTRAL | The RSI value for HUT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.28 | NEGATIVE | The MACD value suggests HUT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 60.36 | NEUTRAL | The Stochastics value for HUT is a neutral value. |
| Average True Range in percent/ATR (20) | 9.78 | HIGH VOLATILITY | The high ATR as a percentage value for HUT suggests high volalility. |
| Average Directional Index/ADX (14) | 15.3 | NEGATIVE | The low ADX value for HUT suggests a weak or negative 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 |
|---|---|---|---|
| 55.32 | 53.04 | 2.28 (4.12%) | 24.26% |
| An entry @55.32. This is a Buy Stop order right above the resistance zone. | An exit @53.04. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.28 points, which is 4.12%. | For a 1.00% total portfolio risk, you can invest 24.26% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of HUT. 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.
59.19
+5.16 (+9.55%)
HUT 8 CORP / HUT FAQ
What is the ChartMill technical rating of HUT 8 CORP (HUT) stock?
ChartMill assigns a technical rating of 9 / 10 to HUT.
What is the trend direction for HUT stock?
The current trend direction for HUT 8 CORP (HUT) is Bullish.
Can you provide the RSI signal for HUT 8 CORP?
HUT 8 CORP (HUT) has an RSI value of 49.5189. This indicates that the stock is currently neutral.
What is the MACD signal for HUT stock?
The MACD indicator for HUT 8 CORP (HUT) has a value of -0.280953, indicating a bearish trend.
Can you provide the support and resistance levels for HUT 8 CORP?
HUT 8 CORP (HUT) has a support level at 53.91 and a resistance level at 54.87. Check the full technical report for our detailed analysis of HUT support and resistance levels.