NORBT Technical Analysis - NORBIT ASA

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to NORBT. NORBT was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.

In the last month NORBT has a been trading in the 177.20 - 214.50 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

Looking at the yearly performance, NORBT did better than 93% of all other 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 54 other stocks in this industry. NORBT outperforms 84% of them.

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.

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

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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 an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

134.16

220.69

We found 1 important support area.

Support @135.52 from a trend line in the weekly time frame.

When analyzing the resistance we notice 4 important areas.

A resistance zone ranging from 195.53 to 201.33. 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 @211.95 from a trend line in the daily time frame.
Resistance @218.50 from a horizontal line in the daily time frame.

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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	93.92	POSITIVE	NORBT.OL has a high relative strength, it outperformed 93.92% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of NORBT.OL is below 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)	35.35	NEUTRAL	The RSI value for NORBT.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-1.61	NEGATIVE	The MACD value suggests NORBT.OL has a negative trend.
Stochastics (14,3)	19.52	OVERSOLD	The low Stochastics value suggests NORBT.OL may be oversold.
Average True Range in percent/ATR (20)	3.57	MEDIUM VOLATILITY	The ATR as a percentage value for NORBT.OL suggests some volalility.
Average Directional Index/ADX (14)	12.75	NEGATIVE	The low ADX value for NORBT.OL suggests a weak or negative trend.