We assign a technical rating of 9 out of 10 to NESR. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NESR is showing a nice and steady performance.
NESR has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. We notice that large players showed an interest for NESR in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
12.18
3 important support areas can be observed.
- A support zone ranging from 14.32 to 14.38. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @13.23 from a trend line in the daily time frame.
- A support zone ranging from 12.30 to 12.48. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | UP | POSITIVE | The long term trend for NESR is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NESR is up. |
| ChartMill Relative Strength | 93.45 | POSITIVE | NESR has a high relative strength, it outperformed 93.45% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NESR is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NESR is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NESR is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.56 | NEUTRAL | The RSI value for NESR is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests NESR has a negative trend. |
| Stochastics (14,3) | 82.16 | OVERBOUGHT | The high Stochastics value suggests NESR may be overbought. |
| Average True Range in percent/ATR (20) | 4.27 | MEDIUM VOLATILITY | The ATR as a percentage value for NESR suggests some volalility. |
| Average Directional Index/ADX (14) | 44.05 | POSITIVE | The high ADX value value for NESR suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.00 | 14.31 | 0.69 (4.60%) | 21.74% |
| An entry @15.00. This is a Buy Stop order right above the 10 day high. | An exit @14.31. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.69 points, which is 4.60%. | For a 1.00% total portfolio risk, you can invest 21.74% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of NESR. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
14.41
-0.46 (-3.09%)
NATIONAL ENERGY SERVICES REU / NESR FAQ
Can you provide the ChartMill technical rating for NATIONAL ENERGY SERVICES REU?
ChartMill assigns a technical rating of 9 / 10 to NESR.
Can you provide the trend direction for NATIONAL ENERGY SERVICES REU?
The current trend direction for NATIONAL ENERGY SERVICES REU (NESR) is Bullish.
Can you provide the RSI signal for NATIONAL ENERGY SERVICES REU?
NATIONAL ENERGY SERVICES REU (NESR) has an RSI value of 60.555. This indicates that the stock is currently neutral.
What is the short term momentum for NATIONAL ENERGY SERVICES REU (NESR) stock?
The short term momentum for NATIONAL ENERGY SERVICES REU (NESR) is positive.
What is the support and resistance level for NESR stock?
NATIONAL ENERGY SERVICES REU (NESR) has a support level at 14.38. Check the full technical report for our detailed analysis of NESR support and resistance levels.