INSTEEL INDUSTRIES INC (IIIN) Technical Analysis
NYSE:IIIN • US45774W1080
We assign a technical rating of 1 out of 10 to IIIN. IIIN has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- In the last month IIIN has a been trading in the 31.48 - 38.45 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- IIIN is one of the better performing stocks in the Building Products industry, it outperforms 75% of 42 stocks in the same industry.
- The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
- When comparing the performance of all stocks over the past year, IIIN turns out to be only a medium performer in the overall market: it outperformed 63% of all stocks.
- IIIN is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so IIIN is lagging the market slightly.
The technical rating of IIIN is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
29.78
We found 3 important support areas.
- Support @31.68 from a horizontal line in the daily time frame.
- Support @30.58 from a horizontal line in the weekly time frame.
- Support @30.08 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 34.46 to 34.68. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @37.87 from a horizontal line in the daily time frame.
- Resistance @38.81 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 | NEUTRAL | NEUTRAL | The long term trend for IIIN is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for IIIN is down. |
| ChartMill Relative Strength | 63.74 | NEUTRAL | IIIN is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of IIIN is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of IIIN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 29.7 | OVERSOLD | The low RSI value suggests IIIN may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.7 | NEGATIVE | The MACD value suggests IIIN has a negative trend. |
| Stochastics (14,3) | 7.98 | OVERSOLD | The low Stochastics value suggests IIIN may be oversold. |
| Average True Range in percent/ATR (20) | 3.92 | MEDIUM VOLATILITY | The ATR as a percentage value for IIIN suggests some volalility. |
| Average Directional Index/ADX (14) | 27.7 | POSITIVE | The high ADX value value for IIIN suggests a strong trend. |
IIIN Technicals: Chart, Performance Metrics, Trend & Indicators
31.74
-1.05 (-3.2%)
INSTEEL INDUSTRIES INC / IIIN FAQ
Can you provide the ChartMill technical rating for INSTEEL INDUSTRIES INC?
ChartMill assigns a technical rating of 1 / 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 29.6954. This indicates that the stock is currently oversold.
What is the support and resistance level for IIIN stock?
INSTEEL INDUSTRIES INC (IIIN) has a support level at 31.68 and a resistance level at 34.46. Check the full technical report for our detailed analysis of IIIN support and resistance levels.