IT TECH PACKAGING INC (ITP) Stock Technical Analysis
NYSEARCA:ITP - NYSE Arca - US46527C2098 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to ITP. In the past year, ITP was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
ITP is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
ITP is part of the Paper & Forest Products industry. There are 9 other stocks in this industry. ITP outperforms 75% of them.
ITP has an average volume of 2529660 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, ITP outperforms 51% of them, which is more or less in line with the market.
In the last month ITP has a been trading in the 0.19 - 0.23 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, ITP does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 0.22. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.20, a Stop Loss order could be placed below this zone.
More info and screens
0.18
0.44
3 important support areas can be observed.
- A support zone ranging from 0.20 to 0.20. 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 0.19 to 0.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @0.18 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 0.22 to 0.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @0.26 from a trend line in the daily time frame.
- Resistance @0.37 from a trend line in the weekly time frame.
- Resistance @0.44 from a horizontal line in the daily 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 ITP is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ITP is neutral. |
| ChartMill Relative Strength | 51.63 | NEUTRAL | ITP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ITP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ITP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ITP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.64 | NEUTRAL | The RSI value for ITP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests ITP has a positive trend. |
| Stochastics (14,3) | 37.35 | NEUTRAL | The Stochastics value for ITP is a neutral value. |
| Average True Range in percent/ATR (20) | 6.21 | HIGH VOLATILITY | The high ATR as a percentage value for ITP suggests high volalility. |
| Average Directional Index/ADX (14) | 35.74 | POSITIVE | The high ADX value value for ITP suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
0.207
+0 (+2.12%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryPaper & Forest Products
Performance
% Chg2.12%
1 Week3.55%
2 Weeks5.34%
1 Month3.5%
3 Month21.76%
6 Month-37.27%
12 Month-11.54%
2 Year-52.97%
3 Year-77.74%
5 Year-95.14%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.01
ATR(20)%6.21%
ATR Inc-24.32%
Range Today0.01
ADR(20)0.01
ADR(20)%6.14%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS51.63
Mansfield-3.06
10 Day High0.21
10 Day Low0.19
20 Day High0.23
20 Day Low0.19
52 Week High1.07
52 Week Low0.15
CS1 End0.2
CR1 Start0.22
Volume & EV
DER(3)-10.08%
DER(5)-2.42%
Volume253.70K
Volume Incr-53.59%
Vol(5)324.22K
Vol(50)2.53M