INSTEEL INDUSTRIES INC (IIIN) Stock Technical Analysis
NYSE:IIIN • US45774W1080
We assign a technical rating of 9 out of 10 to IIIN. In the last year, IIIN was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that IIIN is one of the better performing stocks in the market, outperforming 82% of all stocks.
- IIIN is one of the better performing stocks in the Building Products industry, it outperforms 82% of 42 stocks in the same industry.
- IIIN 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 IIIN is lagging the market slightly.
- In the last month IIIN has a been trading in the 31.80 - 38.35 range, which is quite wide. It is currently trading near the high of this range.
Besides having an excellent technical rating, IIIN also presents a decent setup pattern. Prices have been consolidating lately. We notice that large players showed an interest for IIIN 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.
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When analyzing the support we can see 4 important areas.
- A support zone ranging from 36.80 to 37.23. 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 32.79 to 33.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @31.68 from a horizontal line in the daily time frame.
- Support @30.32 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 39.61 to 39.68. 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 IIIN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for IIIN is up. |
| ChartMill Relative Strength | 82.78 | POSITIVE | IIIN has a high relative strength, it outperformed 82.78% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of IIIN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IIIN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of IIIN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 69.51 | NEUTRAL | The RSI value for IIIN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.13 | POSITIVE | The MACD value suggests IIIN has a positive trend. |
| Stochastics (14,3) | 91.77 | OVERBOUGHT | The high Stochastics value suggests IIIN may be overbought. |
| Average True Range in percent/ATR (20) | 2.62 | MEDIUM VOLATILITY | The ATR as a percentage value for IIIN suggests some volalility. |
| Average Directional Index/ADX (14) | 23.89 | NEUTRAL | The ADX value for IIIN suggests a possible start of a new 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 |
|---|---|---|---|
| 39.69 | 36.79 | 2.90 (7.31%) | 13.69% |
| An entry @39.69. This is a Buy Stop order right above the resistance zone. | An exit @36.79. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.90 points, which is 7.31%. | For a 1.00% total portfolio risk, you can invest 13.69% 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.
38.08
+0.71 (+1.9%)
INSTEEL INDUSTRIES INC / IIIN FAQ
Can you provide the ChartMill technical rating for INSTEEL INDUSTRIES INC?
ChartMill assigns a technical rating of 9 / 10 to IIIN.
What is the trend direction for IIIN stock?
The current trend direction for INSTEEL INDUSTRIES INC (IIIN) is Bullish.
What is the RSI signal for IIIN stock?
INSTEEL INDUSTRIES INC (IIIN) has an RSI value of 69.5088. This indicates that the stock is currently neutral.
What is the buy/sell signal for IIIN stock?
The buy/sell signal for INSTEEL INDUSTRIES INC (IIIN) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for INSTEEL INDUSTRIES INC?
INSTEEL INDUSTRIES INC (IIIN) has a support level at 37.23 and a resistance level at 39.61. Check the full technical report for our detailed analysis of IIIN support and resistance levels.