We assign a technical rating of 5 out of 10 to INDO. In the last year, INDO was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
INDO has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 2.65, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
2.42
We found 2 important support areas.
- A support zone ranging from 2.62 to 2.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.44 from a trend line in the weekly time frame.
We can see 4 important resistance areas.
- Resistance @2.99 from a trend line in the daily time frame.
- A resistance zone ranging from 3.05 to 3.06. 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 | NEUTRAL | NEUTRAL | The long term trend for INDO is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for INDO is up. |
| ChartMill Relative Strength | 44.92 | 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) | DOWN | MIXED | The current price of INDO is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of INDO is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.82 | 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. |
| Stochastics (14,3) | 79.96 | NEUTRAL | The Stochastics value for INDO is a neutral value. |
| Average True Range in percent/ATR (20) | 3.8 | MEDIUM VOLATILITY | The ATR as a percentage value for INDO suggests some volalility. |
| Average Directional Index/ADX (14) | 15.49 | NEGATIVE | The low ADX value for INDO suggests a weak or negative trend. |
2.86
-0.02 (-0.69%)
INDONESIA ENERGY CORP LTD / INDO FAQ
Can you provide the ChartMill technical rating for INDONESIA ENERGY CORP LTD?
ChartMill assigns a technical rating of 5 / 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 55.8224. 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 0.0244913, 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 2.65 and a resistance level at 2.99. Check the full technical report for our detailed analysis of INDO support and resistance levels.