IDEX Technical Analysis - IDEX BIOMETRICS ASA

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to IDEX. Recently some decent action could be observed, but in the medium term time frame this is still negative. IDEX was also a bad performer in the overall market in the last year.

98% of all other stocks performed better in the past year than IDEX.

IDEX is part of the Electronic Equipment, Instruments & Components industry. There are 56 other stocks in this industry, of which 83% are performing better than IDEX.

IDEX is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

In the last month IDEX has a been trading in the 2.68 - 3.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

IDEX BIOMETRICS ASA / IDEX Weekly stock chart

IDEX BIOMETRICS ASA / IDEX Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, IDEX does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 2.96, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.87

3.22

When analyzing the support we notice one important area.

A support zone ranging from 2.90 to 2.96. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 3.12 to 3.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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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	DOWN	NEGATIVE	The long term trend for IDEX.OL is down.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for IDEX.OL is up.
ChartMill Relative Strength	2.33	NEGATIVE	IDEX.OL has a low relative strength, it was outperformed by 97.67% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of IDEX.OL is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of IDEX.OL is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of IDEX.OL is below a declining SMA(200).
Relative Strength Index/RSI (14)	55.6	NEUTRAL	The RSI value for IDEX.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests IDEX.OL has a positive trend, although the MACD value is declining.
Stochastics (14,3)	62.87	NEUTRAL	The Stochastics value for IDEX.OL is a neutral value.
Average True Range in percent/ATR (20)	6.71	HIGH VOLATILITY	The high ATR as a percentage value for IDEX.OL suggests high volalility.
Average Directional Index/ADX (14)	36.4	POSITIVE	The high ADX value value for IDEX.OL suggests a strong trend.