OBSIDIAN ENERGY LTD (OBE) Technical Analysis
NYSEARCA:OBE • CA6744822033
Current stock price
OBE Technical Rating and Analysis
Overall OBE gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, OBE is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- OBE is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 79% of 209 stocks in the same industry.
- OBE is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so OBE is leading the market.
- In the last month OBE has a been trading in the 7.26 - 9.00 range, which is quite wide. It is currently trading near the high of this range.
- When comparing the yearly performance of all stocks, we notice that OBE is one of the better performing stocks in the market, outperforming 94% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- Volume is considerably higher in the last couple of days.
OBE Weekly and Daily overview Charts
OBE Setup Rating and Analysis
OBE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 8.74. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
OBE Support and Resistance Analysis
5.42
When analyzing the support we can see 5 important areas.
- A support zone ranging from 8.28 to 8.29. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @7.45 from a horizontal line in the daily time frame.
- Support @6.19 from a trend line in the weekly time frame.
- A support zone ranging from 5.63 to 5.71. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @5.47 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 8.74 to 8.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
OBE 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 OBE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OBE is up. |
| ChartMill Relative Strength | 94.2 | POSITIVE | OBE has a high relative strength, it outperformed 94.2% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OBE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OBE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OBE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 65.72 | NEUTRAL | The RSI value for OBE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests OBE has a negative trend. |
| Stochastics (14,3) | 75.21 | NEUTRAL | The Stochastics value for OBE is a neutral value. |
| Average True Range in percent/ATR (20) | 4 | MEDIUM VOLATILITY | The ATR as a percentage value for OBE suggests some volalility. |
| Average Directional Index/ADX (14) | 25.74 | POSITIVE | The high ADX value value for OBE suggests a strong trend. |
OBE Chart- and CandleStick Pattern Analysis
OBE Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 8.76 | 8.27 | 0.49 (5.59%) | 17.88% |
| An entry @8.76. This is a Buy Stop order right above the resistance zone. | An exit @8.27. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.49 points, which is 5.59%. | For a 1.00% total portfolio risk, you can invest 17.88% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of OBE. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
OBE Technicals: Chart, Performance Metrics, Trend & Indicators
8.73
-0.01 (-0.11%)
OBSIDIAN ENERGY LTD / OBE TA FAQ
Can you provide the ChartMill technical rating for OBSIDIAN ENERGY LTD?
ChartMill assigns a technical rating of 9 / 10 to OBE.
What is the trend direction for OBE stock?
The current trend direction for OBSIDIAN ENERGY LTD (OBE) is Bullish.
Can you provide the RSI signal for OBSIDIAN ENERGY LTD?
OBSIDIAN ENERGY LTD (OBE) has an RSI value of 65.721. This indicates that the stock is currently neutral.
Can you provide the MACD signal for OBSIDIAN ENERGY LTD?
The MACD indicator for OBSIDIAN ENERGY LTD (OBE) has a value of -0.0123065, indicating a bearish trend.
What is the buy/sell signal for OBSIDIAN ENERGY LTD (OBE) stock?
The buy/sell signal for OBSIDIAN ENERGY LTD (OBE) is buy as both the short term and long term trends are positive.