Overall INDO gets a technical rating of 8 out of 10. Although INDO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
INDO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 2.96, a Stop Loss order could be placed below this zone.
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4 important support areas can be observed.
- A support zone ranging from 2.89 to 2.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 2.70 to 2.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 2.62 to 2.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.45 from a trend line in the weekly time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 3.01 to 3.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 3.24 to 3.30. This zone is formed by a combination of multiple trend lines in the daily time frame.
- 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 | 41.65 | NEUTRAL | INDO is not amongst the best or worst performers 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) | 52.22 | NEUTRAL | The RSI value for INDO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests INDO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 73.11 | NEUTRAL | The Stochastics value for INDO is a neutral value. |
| Average True Range in percent/ATR (20) | 6 | HIGH VOLATILITY | The high ATR as a percentage value for INDO suggests high volalility. |
| Average Directional Index/ADX (14) | 34.24 | POSITIVE | The high ADX value value for INDO suggests a strong trend. |
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 |
|---|---|---|---|
| 3.05 | 2.88 | 0.17 (5.57%) | 17.94% |
| An entry @3.05. This is a Buy Stop order right above the resistance zone. | An exit @2.88. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.17 points, which is 5.57%. | When investing 17.94% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of INDO. 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.
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-0.23 (-7.12%)
INDONESIA ENERGY CORP LTD / INDO FAQ
Can you provide the ChartMill technical rating for INDONESIA ENERGY CORP LTD?
ChartMill assigns a technical rating of 8 / 10 to INDO.
Can you provide the trend direction for INDONESIA ENERGY CORP LTD?
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 52.2244. This indicates that the stock is currently neutral.
What is the MACD signal for INDONESIA ENERGY CORP LTD (INDO) stock?
The MACD indicator for INDONESIA ENERGY CORP LTD (INDO) has a value of 0.0217741, indicating a bearish trend.
What are the support and resistance levels for INDONESIA ENERGY CORP LTD (INDO) stock?
INDONESIA ENERGY CORP LTD (INDO) has a support level at 2.96 and a resistance level at 3.01. Check the full technical report for our detailed analysis of INDO support and resistance levels.