NEL Technical Analysis - NEL ASA

Technical Rating and Analysis

Taking everything into account, NEL scores 0 out of 10 in our technical rating. NEL'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.

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.

When comparing the yearly performance of all stocks, NEL is a bad performer in the overall market: 95% of all stocks are doing better.

NEL is one of the lesser performing stocks in the Electrical Equipment industry. 61% of 63 stocks in the same industry do better.

NEL 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.

NEL has an average volume of 4383550 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month NEL has a been trading in the 2.05 - 2.38 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

NEL has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.33. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.23

2.69

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 2.33 to 2.33. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @2.66 from a trend line in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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 NEL.OL is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for NEL.OL is neutral.
ChartMill Relative Strength	5.41	NEGATIVE	NEL.OL has a low relative strength, it was outperformed by 94.59% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of NEL.OL is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of NEL.OL is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of NEL.OL is below a declining SMA(200).
Relative Strength Index/RSI (14)	48.06	NEUTRAL	The RSI value for NEL.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests NEL.OL has a positive trend.
Stochastics (14,3)	62.67	NEUTRAL	The Stochastics value for NEL.OL is a neutral value.
Average True Range in percent/ATR (20)	4.58	MEDIUM VOLATILITY	The ATR as a percentage value for NEL.OL suggests some volalility.
Average Directional Index/ADX (14)	27.63	POSITIVE	The high ADX value value for NEL.OL suggests a strong trend.