IT TECH PACKAGING INC (ITP) Stock Technical Analysis
NYSEARCA:ITP - NYSE Arca - US46527C2098 - Common Stock - Currency: USD
Overall ITP gets a technical rating of 1 out of 10. ITP scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
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.
90% of all other stocks performed better in the past year than ITP.
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.
Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
In the last month ITP has a been trading in the 0.18 - 0.21 range, which is quite wide. It is currently trading near the high of this range.
ITP has an average volume of 9063210 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
ITP is an average performer in the Paper & Forest Products industry, it outperforms 50% of 9 stocks in the same industry.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
ITP has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 0.19, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ITP 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.
More info and screens
0.19
0.44
We found 1 important support area.
- A support zone ranging from 0.19 to 0.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 0.22 to 0.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @0.30 from a trend line in the daily time frame.
- Resistance @0.39 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 | 10.73 | NEGATIVE | ITP has a low relative strength, it was outperformed by 89.27% off all stocks 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) | DOWN | MIXED | The current price of ITP is above a declining 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) | 55.46 | 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) | 72.27 | NEUTRAL | The Stochastics value for ITP is a neutral value. |
| Average True Range in percent/ATR (20) | 6.14 | HIGH VOLATILITY | The high ATR as a percentage value for ITP suggests high volalility. |
| Average Directional Index/ADX (14) | 46.41 | 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)
0.2095
+0 (+2.34%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryPaper & Forest Products
Performance
% Chg2.34%
1 Week7.44%
2 Weeks10.09%
1 Month10.26%
3 Month-24.56%
6 Month-53.44%
12 Month-11.83%
2 Year-52.39%
3 Year-78.62%
5 Year-95.74%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.01
ATR(20)%6.14%
ATR Inc28.06%
Range Today0.02
ADR(20)0.01
ADR(20)%5.98%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS10.73
Mansfield-2.89
10 Day High0.21
10 Day Low0.19
20 Day High0.21
20 Day Low0.18
52 Week High1.07
52 Week Low0.15
CS1 End0.19
CR1 Start0.22
Volume & EV
DER(3)14.51%
DER(5)11.75%
Volume982.81K
Volume Incr-84.31%
Vol(5)741.92K
Vol(50)9.06M