INC Technical Analysis - INNOVATEC SPA

Technical Rating and Analysis

Overall INC gets a technical rating of 2 out of 10. INC's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

88% of all other stocks performed better in the past year than INC.

INC is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month INC has a been trading in the 0.24 - 0.29 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.

INC has an average volume of 1139440 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

INC is an average performer in the Electrical Equipment industry, it outperforms 49% of 64 stocks in the same industry.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

INC has a poor technical rating and the quality of the setup is also only medium at the moment. We see reduced volatility while prices have been consolidating in the most recent period.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.24

0.29

When analyzing the support we notice one important area.

A support zone ranging from 0.24 to 0.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

We can see 3 important resistance areas.

A resistance zone ranging from 0.26 to 0.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @0.28 from a trend line in the daily time frame.
Resistance @0.29 from a horizontal line in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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 INC.MI is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for INC.MI is down.
ChartMill Relative Strength	12.76	NEGATIVE	INC.MI has a low relative strength, it was outperformed by 87.24% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of INC.MI is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of INC.MI is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of INC.MI is below a declining SMA(200).
Relative Strength Index/RSI (14)	42.84	NEUTRAL	The RSI value for INC.MI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	NEGATIVE	The MACD value suggests INC.MI has a negative trend.
Stochastics (14,3)	22.9	NEUTRAL	The Stochastics value for INC.MI is a neutral value.
Average True Range in percent/ATR (20)	5.71	HIGH VOLATILITY	The high ATR as a percentage value for INC.MI suggests high volalility.
Average Directional Index/ADX (14)	20.21	NEUTRAL	The ADX value for INC.MI suggests a possible start of a new trend.