OFAL Technical Analysis - OFA GROUP

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to OFAL. OFAL performed below average in the overall market. Although the medium term picture in unclear, the short term picture is clearly negative.

100% of all other stocks performed better in the past year than OFAL.

OFAL is part of the Professional Services industry. There are 81 other stocks in this industry, of which 87% are performing better than OFAL.

In the last month OFAL has a been trading in the 1.15 - 1.75 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been consolidating recently, but much resistance may still be present above.

OFAL has an average volume of 1438580 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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.

Volume is considerably higher in the last couple of days.

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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

Although the technical rating is bad, OFAL does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.20

1.48

2 important support areas can be observed.

Support @1.24 from a horizontal line in the daily time frame.
Support @1.21 from a horizontal line in the daily time frame.

3 important resistance areas can be observed.

A resistance zone ranging from 1.33 to 1.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @1.39 from a trend line in the daily time frame.
A resistance zone ranging from 1.45 to 1.47. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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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 OFAL is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for OFAL is down.
ChartMill Relative Strength	0	NEGATIVE	OFAL has a low relative strength, it was outperformed by 100% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of OFAL is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of OFAL is below a declining SMA(50).
Relative Strength Index/RSI (14)	46.13	NEUTRAL	The RSI value for OFAL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests OFAL has a positive trend, although the MACD value is declining.
Stochastics (14,3)	34.72	NEUTRAL	The Stochastics value for OFAL is a neutral value.
Average True Range in percent/ATR (20)	11.7	HIGH VOLATILITY	The high ATR as a percentage value for OFAL suggests high volalility.
Average Directional Index/ADX (14)	12.81	NEGATIVE	The low ADX value for OFAL suggests a weak or negative trend.