NexTier Oilfield Solutions Inc (NEX) Stock Technical Analysis
NYSE:NEX - New York Stock Exchange, Inc. - US65290C1053 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to NEX. 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.
In the last month NEX has a been trading in the 10.38 - 11.96 range, which is quite wide. It is currently trading near the lows of this range.
NEX is part of the Energy Equipment & Services industry. There are 61 other stocks in this industry. NEX outperforms 95% of them.
NEX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NEX is lagging the market slightly.
NEX has an average volume of 2563970 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
Looking at the yearly performance, NEX did better than 89% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
Volume is considerably higher in the last couple of days.
Although the technical rating is only medium, NEX does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. 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. 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
7.59
12.05
3 important support areas can be observed.
- 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.
2 important resistance areas can be observed.
- 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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
10.61
+0.1 (+0.95%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryEnergy Equipment & Services
Performance
% Chg0.95%
1 Week-0.09%
2 Weeks-2.84%
1 Month-10.69%
3 Month26.31%
6 Month5.47%
12 Month11.33%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.35
ATR(20)%3.58%
ATR Inc-10.9%
Range Today0.4
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.89
Mansfield0.4
10 Day High11.24
10 Day Low10.38
20 Day High11.96
20 Day Low10.38
52 Week High11.99
52 Week Low6.66
CS1 End10.54
CR1 Start11.61
Volume & EV
DER(3)4.86%
DER(5)4.41%
Volume16.98M
Volume Incr188.08%
Vol(5)5.07M
Vol(50)2.56M