iPath Series B Bloomberg Nickel Subindex TR ETN (JJN) Stock Technical Analysis
NYSEARCA:JJN - NYSE Arca - US06746P4809 - ETF - Currency: USD
Taking everything into account, JJN scores 0 out of 10 in our technical rating. JJN's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, JJN does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 28.41. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 28.31, a Stop Loss order could be placed below this zone.
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26.77
2 important support areas can be observed.
- A support zone ranging from 27.88 to 28.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 27.04 to 27.41. This zone is formed by a combination of multiple trend lines in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 28.41 to 28.47. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 30.97 to 31.02. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @31.98 from a trend line in the daily time frame.
- Resistance @35.37 from a trend 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 JJN is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for JJN is down. |
| ChartMill Relative Strength | 19.29 | NEGATIVE | JJN has a low relative strength, it was outperformed by 80.71% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of JJN is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of JJN is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of JJN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 45.07 | NEUTRAL | The RSI value for JJN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests JJN has a positive trend. |
| Stochastics (14,3) | 50.69 | NEUTRAL | The Stochastics value for JJN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.72 | MEDIUM VOLATILITY | The ATR as a percentage value for JJN suggests some volalility. |
| Average Directional Index/ADX (14) | 16.77 | NEGATIVE | The low ADX value for JJN suggests a weak or negative trend. |
iPath Series B Bloomberg Nickel Subindex TR ETN
NYSEARCA:JJN (6/7/2023, 8:04:00 PM)
28.4
+0.46 (+1.65%)