INSTEEL INDUSTRIES INC (IIIN) Stock Technical Analysis
NYSE:IIIN - New York Stock Exchange, Inc. - US45774W1080 - Common Stock - Currency: USD
Taking everything into account, IIIN scores 7 out of 10 in our technical rating. In the last year, IIIN was one of the better performers, but we do observe some doubts in the very recent evolution.
IIIN is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
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!
IIIN is one of the better performing stocks in the Building Products industry, it outperforms 87% of 41 stocks in the same industry.
IIIN is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so IIIN is performing more or less in line with the market.
When comparing the yearly performance of all stocks, we notice that IIIN is one of the better performing stocks in the market, outperforming 86% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
IIIN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 34.64, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
23.80
38.60
We found 2 important support areas.
- A support zone ranging from 34.64 to 34.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 24.04 to 24.04. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 37.35 to 37.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @38.22 from a horizontal line in the weekly 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 IIIN is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for IIIN is neutral. |
| ChartMill Relative Strength | 86.52 | POSITIVE | IIIN has a high relative strength, it outperformed 86.52% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of IIIN is below a declining 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) | 49.77 | NEUTRAL | The RSI value for IIIN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.26 | NEGATIVE | The MACD value suggests IIIN has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.17 | NEUTRAL | The Stochastics value for IIIN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.3 | MEDIUM VOLATILITY | The ATR as a percentage value for IIIN suggests some volalility. |
| Average Directional Index/ADX (14) | 20.77 | NEUTRAL | The ADX value for IIIN suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 35.32 | 34.63 | 0.68 (1.94%) | 25.00% |
| An entry @35.31. This is a Buy Stop order right above the 10 day moving average. | An exit @34.63. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.68 points, which is 1.94%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.48%. |
- The distance between exit and entry is rather small compared to the average daily movement of IIIN. 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.
35.01
+0.15 (+0.43%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryBuilding Products
Performance
% Chg0.43%
1 Week-0.14%
2 Weeks-1.55%
1 Month-2.64%
3 Month28.34%
6 Month23.62%
12 Month13.82%
2 Year12.5%
3 Year3.98%
5 Year83.59%
10 Year87.22%
15 Year201.29%
Volatility
ATR(14)0.79
ATR(20)%2.3%
ATR Inc7.08%
Range Today0.89
ADR(20)0.8
ADR(20)%2.28%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.52
Mansfield1.09
10 Day High36.54
10 Day Low34.3
20 Day High36.64
20 Day Low34.3
52 Week High37.61
52 Week Low22.49
CS1 End34.64
CR1 Start37.35
Volume & EV
DER(3)0.48%
DER(5)-0.63%
Volume462.50K
Volume Incr56.42%
Vol(5)176.12K
Vol(50)159.20K