INDONESIA ENERGY CORP LTD (INDO) Stock Technical Analysis
NYSEARCA:INDO • KYG4760X1025
We assign a technical rating of 9 out of 10 to INDO. Both in the recent history as in the last year, INDO has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- INDO is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 93% of 206 stocks in the same industry.
- In the last month INDO has a been trading in the 3.25 - 5.29 range, which is quite wide. It is currently trading near the high of this range.
- INDO has an average volume of 1276570 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that INDO is one of the better performing stocks in the market, outperforming 95% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
- INDO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so INDO is lagging the market.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although INDO has an excellent technical rating, it does not present a decent entry opportunity 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
2.47
4 important support areas can be observed.
- Support @3.54 from a trend line in the daily time frame.
- Support @3.35 from a trend line in the daily time frame.
- Support @2.80 from a trend line in the weekly time frame.
- Support @2.49 from a trend line in the weekly time frame.
We found 1 important resistance area.
- Resistance @5.03 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 INDO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for INDO is up. |
| ChartMill Relative Strength | 95.01 | POSITIVE | INDO has a high relative strength, it outperformed 95.01% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of INDO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of INDO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of INDO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.66 | NEUTRAL | The RSI value for INDO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests INDO has a positive trend. |
| Stochastics (14,3) | 82.18 | OVERBOUGHT | The high Stochastics value suggests INDO may be overbought. |
| Average True Range in percent/ATR (20) | 10.34 | HIGH VOLATILITY | The high ATR as a percentage value for INDO suggests high volalility. |
| Average Directional Index/ADX (14) | 44 | POSITIVE | The high ADX value value for INDO suggests a strong trend. |
4.78
-0.16 (-3.24%)
INDONESIA ENERGY CORP LTD / INDO FAQ
Can you provide the ChartMill technical rating for INDONESIA ENERGY CORP LTD?
ChartMill assigns a technical rating of 9 / 10 to INDO.
What is the current trend direction of INDONESIA ENERGY CORP LTD (INDO) stock?
The current trend direction for INDONESIA ENERGY CORP LTD (INDO) is Bullish.
What is the RSI signal for INDONESIA ENERGY CORP LTD (INDO) stock?
INDONESIA ENERGY CORP LTD (INDO) has an RSI value of 61.6553. This indicates that the stock is currently neutral.
Can you provide the short term momentum for INDONESIA ENERGY CORP LTD?
The short term momentum for INDONESIA ENERGY CORP LTD (INDO) is positive.
Can you provide the support and resistance levels for INDONESIA ENERGY CORP LTD?
INDONESIA ENERGY CORP LTD (INDO) has a support level at 3.54 and a resistance level at 5.03. Check the full technical report for our detailed analysis of INDO support and resistance levels.