NETI Technical Analysis - Eneti Inc

Technical Rating and Analysis

Overall NETI gets a technical rating of 7 out of 10. NETI has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.

The long and short term trends are both positive. This is looking good!

When comparing the yearly performance of all stocks, we notice that NETI is one of the better performing stocks in the market, outperforming 72% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.

NETI is an average performer in the Construction & Engineering industry, it outperforms 49% of 52 stocks in the same industry.

NETI is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so NETI is lagging the market.

In the last month NETI has a been trading in the 9.65 - 12.43 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.

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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

Although NETI has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

9.40

12.36

When analyzing the support we can see 4 important areas.

Support @10.26 from a trend line in the weekly time frame.
A support zone ranging from 9.90 to 10.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 9.65 to 9.71. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @9.49 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 12.14 to 12.24. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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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	UP	POSITIVE	The long term trend for NETI is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for NETI is up.
ChartMill Relative Strength	72.89	POSITIVE	NETI has a high relative strength, it outperformed 72.89% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of NETI is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of NETI is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of NETI is above the rising SMA(200).
Relative Strength Index/RSI (14)	57.67	NEUTRAL	The RSI value for NETI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.01	NEGATIVE	The MACD value suggests NETI has a negative trend.
Stochastics (14,3)	53.11	NEUTRAL	The Stochastics value for NETI is a neutral value.
Average True Range in percent/ATR (20)	2.94	MEDIUM VOLATILITY	The ATR as a percentage value for NETI suggests some volalility.
Average Directional Index/ADX (14)	20.45	NEUTRAL	The ADX value for NETI suggests a possible start of a new trend.