ONECONNECT FINANCIAL TECHNO (OCFT) Stock Technical Analysis
NYSE:OCFT - New York Stock Exchange, Inc. - US68248T2042 - ADR - Currency: USD
Taking everything into account, OCFT scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, OCFT has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, OCFT also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 7.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.14, a Stop Loss order could be placed below this zone.
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4.51
When analyzing the support we can see 2 important areas.
- A support zone ranging from 7.00 to 7.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @4.56 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 7.25 to 7.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 OCFT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OCFT is up. |
| ChartMill Relative Strength | 98.5 | POSITIVE | OCFT has a high relative strength, it outperformed 98.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OCFT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OCFT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OCFT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.7 | NEUTRAL | The RSI value for OCFT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests OCFT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 54.9 | NEUTRAL | The Stochastics value for OCFT is a neutral value. |
| Average True Range in percent/ATR (20) | 2.32 | MEDIUM VOLATILITY | The ATR as a percentage value for OCFT suggests some volalility. |
| Average Directional Index/ADX (14) | 14.16 | NEGATIVE | The low ADX value for OCFT suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 7.27 | 6.99 | 0.28 (3.85%) | 25.00% |
| An entry @7.27. This is a Buy Stop order right above the resistance zone. | An exit @6.99. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.28 points, which is 3.85%. | For a 0.96% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
7.25
+0.13 (+1.83%)