INSTEEL INDUSTRIES INC (IIIN) Stock Technical Analysis
USA - NYSE:IIIN - US45774W1080 - Common Stock
39.34 USD
+1.06 (+2.77%)
39.34 USD
0 (0%)
We assign a technical rating of 7 out of 10 to IIIN. Although IIIN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
IIIN is part of the Building Products industry. There are 41 other stocks in this industry. IIIN outperforms 85% of them.
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.
Looking at the yearly performance, IIIN did better than 77% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
In the last month IIIN has a been trading in the 36.41 - 39.91 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, IIIN also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 39.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 38.70, a Stop Loss order could be placed below this zone.
More info and screens
34.29
40.08
When analyzing the support we can see 3 important areas.
- A support zone ranging from 38.51 to 38.70. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @35.78 from a horizontal line in the daily time frame.
- A support zone ranging from 34.64 to 35.02. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The short term trend for IIIN is neutral. |
| ChartMill Relative Strength | 77.09 | POSITIVE | IIIN has a high relative strength, it outperformed 77.09% 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) | 59.25 | 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) | 55.92 | NEUTRAL | The Stochastics value for IIIN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.44 | MEDIUM VOLATILITY | The ATR as a percentage value for IIIN suggests some volalility. |
| Average Directional Index/ADX (14) | 26.48 | POSITIVE | The high ADX value value for IIIN suggests a strong 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 |
|---|---|---|---|
| 39.69 | 38.50 | 1.19 (3.00%) | 25.00% |
| An entry @39.69. This is a Buy Stop order right above the resistance zone. | An exit @38.50. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.19 points, which is 3.00%. | For a 0.75% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
39.34
+1.06 (+2.77%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryBuilding Products
Performance
% Chg2.77%
1 Week-0.41%
2 Weeks1.05%
1 Month7.43%
3 Month12.37%
6 Month44.21%
12 Month27.19%
2 Year21.2%
3 Year48.29%
5 Year110.37%
10 Year144.65%
15 Year338.09%
Volatility
ATR(14)0.98
ATR(20)%2.44%
ATR Inc87.67%
Range Today1.52
ADR(20)0.93
ADR(20)%2.35%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS77.09
Mansfield1.12
10 Day High39.91
10 Day Low37.88
20 Day High39.91
20 Day Low36.42
52 Week High41.64
52 Week Low22.49
CS1 End38.7
CR1 Start39.61
Volume & EV
DER(3)1.04%
DER(5)0.27%
Volume93.00K
Volume Incr-5.02%
Vol(5)90.60K
Vol(50)120.46K