We assign a technical rating of 9 out of 10 to INDO. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, INDO is showing a nice and steady performance.
- 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 94% of 207 stocks in the same industry.
- In the last month INDO has a been trading in the 2.86 - 4.95 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- When comparing the yearly performance of all stocks, we notice that INDO is one of the better performing stocks in the market, outperforming 93% 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 offer a high 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
2.45
When analyzing the support we can see 3 important areas.
- A support zone ranging from 3.12 to 3.14. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 2.70 to 2.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.47 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important 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 | 93.8 | POSITIVE | INDO has a high relative strength, it outperformed 93.8% 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) | 69.84 | 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) | 66.03 | NEUTRAL | The Stochastics value for INDO is a neutral value. |
| Average True Range in percent/ATR (20) | 8.3 | HIGH VOLATILITY | The high ATR as a percentage value for INDO suggests high volalility. |
| Average Directional Index/ADX (14) | 51.34 | POSITIVE | The high ADX value value for INDO suggests a strong trend. |
4.56
+0.33 (+7.8%)
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 69.8428. 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 3.14 and a resistance level at 5.03. Check the full technical report for our detailed analysis of INDO support and resistance levels.