INDONESIA ENERGY CORP LTD (INDO) Stock Technical Analysis
USA - NYSEARCA:INDO - KYG4760X1025 - Common Stock
Overall INDO gets a technical rating of 2 out of 10. INDO 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.
Although the technical rating is bad, INDO does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 2.71, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for INDO in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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2.41
When analyzing the support we can see 2 important areas.
- A support zone ranging from 2.68 to 2.71. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.43 from a trend line in the weekly time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 2.73 to 2.88. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 3.05 to 3.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @3.12 from a horizontal line 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 | DOWN | NEGATIVE | The long term trend for INDO is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for INDO is neutral. |
| ChartMill Relative Strength | 40.26 | NEUTRAL | INDO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of INDO is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of INDO is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of INDO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 43.89 | NEUTRAL | The RSI value for INDO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests INDO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 30.71 | NEUTRAL | The Stochastics value for INDO is a neutral value. |
| Average True Range in percent/ATR (20) | 4.49 | MEDIUM VOLATILITY | The ATR as a percentage value for INDO suggests some volalility. |
| Average Directional Index/ADX (14) | 17.44 | NEGATIVE | The low ADX value for INDO suggests a weak or negative trend. |
2.73
-0.07 (-2.5%)
INDONESIA ENERGY CORP LTD / INDO FAQ
Can you provide the ChartMill technical rating for INDONESIA ENERGY CORP LTD?
ChartMill assigns a technical rating of 2 / 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 Bearish.
What is the RSI signal for INDONESIA ENERGY CORP LTD (INDO) stock?
INDONESIA ENERGY CORP LTD (INDO) has an RSI value of 43.8878. 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 0.000964834, 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 2.71 and a resistance level at 2.73. Check the full technical report for our detailed analysis of INDO support and resistance levels.