EIGHTCO HOLDINGS INC (OCTO) Stock Technical Analysis
NASDAQ:OCTO - Nasdaq - US22890A3023 - Common Stock - Currency: USD
Overall OCTO gets a technical rating of 7 out of 10. OCTO has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
OCTO is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so OCTO is lagging the market.
In the last month OCTO has a been trading in the 1.06 - 2.74 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
OCTO is part of the Containers & Packaging industry. There are 22 other stocks in this industry. OCTO outperforms 85% of them.
OCTO has an average volume of 1381640 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that OCTO is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
Considerably lower volume is observed in the last couple of days.
OCTO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 1.45, a Stop Loss order could be placed below this zone.
More info and screens
1.09
1.62
3 important support areas can be observed.
- A support zone ranging from 1.44 to 1.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.15 from a trend line in the weekly time frame.
- Support @1.10 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 1.59 to 1.60. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The long term trend for OCTO is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OCTO is up. |
| ChartMill Relative Strength | 73.19 | POSITIVE | OCTO has a high relative strength, it outperformed 73.19% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OCTO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OCTO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of OCTO is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.03 | NEUTRAL | The RSI value for OCTO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests OCTO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 28.17 | NEUTRAL | The Stochastics value for OCTO is a neutral value. |
| Average True Range in percent/ATR (20) | 16.5 | HIGH VOLATILITY | The high ATR as a percentage value for OCTO suggests high volalility. |
| Average Directional Index/ADX (14) | 30.63 | POSITIVE | The high ADX value value for OCTO suggests a strong 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)
1.58
+0.13 (+8.97%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryContainers & Packaging
Performance
% Chg8.97%
1 Week-35.77%
2 Weeks19.7%
1 Month33.9%
3 Month15.33%
6 Month1.8%
12 Month10.34%
2 Year-51.38%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.33
ATR(20)%16.5%
ATR Inc-41.07%
Range Today0.2
ADR(20)0.23
ADR(20)%14.28%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.19
Mansfield-0.66
10 Day High2.74
10 Day Low1.2
20 Day High2.74
20 Day Low1.06
52 Week High4.86
52 Week Low0.98
CS1 End1.45
CR1 Start1.59
Volume & EV
DER(3)-1.4%
DER(5)-4.14%
Volume218.70K
Volume Incr-85.65%
Vol(5)475.72K
Vol(50)1.38M