NexTier Oilfield Solutions Inc (NEX) Stock Technical Analysis
NYSE:NEX - New York Stock Exchange, Inc. - US65290C1053 - Common Stock - Currency: USD
Taking everything into account, NEX scores 6 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Although the technical rating is only medium, NEX does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 10.54, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NEX in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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.
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When analyzing the support we can see 3 important areas.
- A support zone ranging from 10.50 to 10.54. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.39 from a trend line in the weekly time frame.
- Support @7.67 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- Resistance @11.61 from a horizontal line in the weekly time frame.
- Resistance @11.93 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 | UP | POSITIVE | The long term trend for NEX is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for NEX is down. |
| ChartMill Relative Strength | 89.89 | POSITIVE | NEX has a high relative strength, it outperformed 89.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of NEX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of NEX is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NEX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 43.89 | NEUTRAL | The RSI value for NEX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests NEX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 16.31 | OVERSOLD | The low Stochastics value suggests NEX may be oversold. |
| Average True Range in percent/ATR (20) | 3.58 | MEDIUM VOLATILITY | The ATR as a percentage value for NEX suggests some volalility. |
| Average Directional Index/ADX (14) | 19.86 | NEGATIVE | The low ADX value for NEX suggests a weak or negative trend. |
10.61
+0.1 (+0.95%)