INSTEEL INDUSTRIES INC (IIIN) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:IIIN - US45774W1080 - Common Stock
Overall IIIN gets a technical rating of 3 out of 10. In the past year, IIIN was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
IIIN has a bad technical rating, but it does show 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 32.30, a Stop Loss order could be placed below this zone.
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29.78
We found 3 important support areas.
- A support zone ranging from 32.14 to 32.30. 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 31.21 to 31.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 30.08 to 30.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 3 important resistance areas.
- A resistance zone ranging from 32.71 to 32.79. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
- Resistance @33.33 from a horizontal line in the daily time frame.
- Resistance @39.67 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 | DOWN | NEGATIVE | The long term trend for IIIN is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for IIIN is neutral. |
| ChartMill Relative Strength | 57.59 | NEUTRAL | IIIN is not amongst the best or worst performers 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 | MIXED | The current price of IIIN is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.58 | NEUTRAL | The RSI value for IIIN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests IIIN has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 37.82 | NEUTRAL | The Stochastics value for IIIN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.45 | MEDIUM VOLATILITY | The ATR as a percentage value for IIIN suggests some volalility. |
| Average Directional Index/ADX (14) | 16.1 | NEGATIVE | The low ADX value for IIIN suggests a weak or negative trend. |
32.41
+0.74 (+2.34%)
INSTEEL INDUSTRIES INC / IIIN FAQ
Can you provide the ChartMill technical rating for INSTEEL INDUSTRIES INC?
ChartMill assigns a technical rating of 3 / 10 to IIIN.
What is the trend direction for IIIN stock?
The current trend direction for INSTEEL INDUSTRIES INC (IIIN) is Bearish.
What is the RSI signal for IIIN stock?
INSTEEL INDUSTRIES INC (IIIN) has an RSI value of 52.5786. This indicates that the stock is currently neutral.
What is the support and resistance level for IIIN stock?
INSTEEL INDUSTRIES INC (IIIN) has a support level at 32.3 and a resistance level at 32.71. Check the full technical report for our detailed analysis of IIIN support and resistance levels.