EIGHTCO HOLDINGS INC (OCTO) Stock Technical Analysis
NASDAQ:OCTO - Nasdaq - US22890A3023 - Common Stock - Currency: USD
Taking everything into account, OCTO scores 0 out of 10 in our technical rating. OCTO scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
90% of all other stocks performed better in the past year than OCTO.
OCTO is part of the Containers & Packaging industry. There are 22 other stocks in this industry, of which 90% are performing better than OCTO.
OCTO is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
In the last month OCTO has a been trading in the 1.05 - 1.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, OCTO does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 1.24. Right above this resistance zone may be a good entry point.
More info and screens
1.06
1.49
We found 4 important support areas.
- A support zone ranging from 1.21 to 1.21. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @1.13 from a trend line in the weekly time frame.
- Support @1.11 from a horizontal line in the weekly time frame.
- A support zone ranging from 1.07 to 1.08. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 1.24 to 1.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.39 from a horizontal line in the weekly time frame.
- Resistance @1.48 from a horizontal line in the daily time frame.
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 | DOWN | NEGATIVE | The long term trend for OCTO is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for OCTO is neutral. |
| ChartMill Relative Strength | 10.82 | NEGATIVE | OCTO has a low relative strength, it was outperformed by 89.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of OCTO is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of OCTO is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OCTO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.06 | 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. |
| Stochastics (14,3) | 85 | OVERBOUGHT | The high Stochastics value suggests OCTO may be overbought. |
| Average True Range in percent/ATR (20) | 5.37 | HIGH VOLATILITY | The high ATR as a percentage value for OCTO suggests high volalility. |
| Average Directional Index/ADX (14) | 16.02 | NEGATIVE | The low ADX value for OCTO suggests a weak or negative 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)
1.24
+0.04 (+3.33%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryContainers & Packaging
Performance
% Chg3.33%
1 Week5.08%
2 Weeks2.48%
1 Month-5.34%
3 Month19.44%
6 Month-26.63%
12 Month-51.55%
2 Year-82.29%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.06
ATR(20)%5.37%
ATR Inc-34.58%
Range Today0.05
ADR(20)0.06
ADR(20)%5.16%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS10.82
Mansfield-2.8
10 Day High1.25
10 Day Low1.11
20 Day High1.3
20 Day Low1.05
52 Week High4.86
52 Week Low0.98
CS1 End1.21
CR1 Start1.24
Volume & EV
DER(3)-24.82%
DER(5)-14.77%
Volume42.70K
Volume Incr5.07%
Vol(5)13.58K
Vol(50)73.61K