WisdomTree Indian Rupee Strategy (ICN) Stock Technical Analysis
NYSEARCA:ICN - NYSE Arca -
Taking everything into account, ICN scores 8 out of 10 in our technical rating. Although ICN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Warning: ICN has an average volume of 2336 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long and short term trends are both positive. This is looking good!
ICN 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 ICN has a been trading in the 20.46 - 22.84 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
When comparing the performance of all stocks over the past year, ICN turns out to be only a medium performer in the overall market: it outperformed 63% of all stocks.
Besides having an excellent technical rating, ICN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 22.38, a Stop Loss order could be placed below this zone.
More info and screens
20.86
23.00
We found 2 important support areas.
- A support zone ranging from 21.76 to 22.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @21.07 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 22.65 to 22.77. This zone is formed by a combination of multiple trend lines 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 ICN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ICN is up. |
| ChartMill Relative Strength | 63.03 | NEUTRAL | ICN is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ICN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ICN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ICN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.23 | NEUTRAL | The RSI value for ICN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests ICN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 93.14 | OVERBOUGHT | The high Stochastics value suggests ICN may be overbought. |
| Average True Range in percent/ATR (20) | 1.39 | LOW VOLATILITY | The low ATR as a percentage value for ICN suggests low volalility. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 22.78 | 20.45 | 2.33 (10.23%) | 9.78% |
| An entry @22.78. This is a Buy Stop order right above the resistance zone. | An exit @20.45. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.33 points, which is 10.23%. | For a 1.00% total portfolio risk, you can invest 9.78% of your capital in this trade. |
- 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.
WisdomTree Indian Rupee Strategy
NYSEARCA:ICN (3/22/2017, 8:25:14 PM)
22.63
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0%
1 Week0.09%
2 Weeks1.98%
1 Month2.96%
3 Month4.67%
6 Month4.24%
12 Month7.05%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.43
ATR(20)%1.39%
ATR Inc-79.76%
Range Today0.03
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS63.03
Mansfield-0.25
10 Day High22.84
10 Day Low20.46
20 Day High22.84
20 Day Low20.46
52 Week High22.84
52 Week Low19.45
CS1 End22.38
CR1 Start22.65
Volume & EV
DER(3)0%
DER(5)0%
Volume1.00K
Volume Incr-73.38%
Vol(5)920
Vol(50)2.34K