NORBT Technical Analysis - NORBIT ASA

Technical Rating and Analysis

Overall NORBT gets a technical rating of 5 out of 10. In the last year, NORBT was one of the better performers, although we are getting mixed signals now in both the short and medium term time frames.

NORBT is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

When comparing the yearly performance of all stocks, we notice that NORBT is one of the better performing stocks in the market, outperforming 92% of all stocks. On top of that, NORBT also shows a nice and consistent pattern of rising prices.

NORBT is part of the Electronic Equipment, Instruments & Components industry. There are 55 other stocks in this industry. NORBT outperforms 85% of them.

NORBT 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 NORBT is lagging the market slightly.

The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

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

NORBT has only a medium 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 192.15. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 187.00, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NORBT in the last couple of days, which is a good sign.

Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

137.18

220.69

2 important support areas can be observed.

A support zone ranging from 181.39 to 187.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @138.57 from a trend line in the weekly time frame.

When analyzing the resistance we notice 4 important areas.

A resistance zone ranging from 192.15 to 197.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 207.01 to 208.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @214.01 from a horizontal line in the daily time frame.
Resistance @218.50 from a horizontal 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	UP	POSITIVE	The long term trend for NORBT.OL is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for NORBT.OL is down.
ChartMill Relative Strength	92.84	POSITIVE	NORBT.OL has a high relative strength, it outperformed 92.84% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of NORBT.OL is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of NORBT.OL is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of NORBT.OL is above the rising SMA(200).
Relative Strength Index/RSI (14)	48.06	NEUTRAL	The RSI value for NORBT.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.81	POSITIVE	The MACD value suggests NORBT.OL has a positive trend.
Stochastics (14,3)	85.66	OVERBOUGHT	The high Stochastics value suggests NORBT.OL may be overbought.
Average True Range in percent/ATR (20)	2.73	MEDIUM VOLATILITY	The ATR as a percentage value for NORBT.OL suggests some volalility.
Average Directional Index/ADX (14)	20.25	NEUTRAL	The ADX value for NORBT.OL suggests a possible start of a new trend.