OFG BANCORP (OFG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:OFG - PR67103X1020 - Common Stock
We assign a technical rating of 4 out of 10 to OFG. OFG has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
Although the technical rating is only medium, OFG does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. 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
34.03
2 important support areas can be observed.
- A support zone ranging from 38.20 to 39.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @34.37 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 42.27 to 43.38. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 45.01 to 45.52. 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 OFG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OFG is up. |
| ChartMill Relative Strength | 29.32 | NEGATIVE | OFG has a low relative strength, it was outperformed by 70.68% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OFG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of OFG is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OFG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.18 | NEUTRAL | The RSI value for OFG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests OFG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 66.2 | NEUTRAL | The Stochastics value for OFG is a neutral value. |
| Average True Range in percent/ATR (20) | 1.7 | LOW VOLATILITY | The low ATR as a percentage value for OFG suggests low volalility. |
| Average Directional Index/ADX (14) | 19.96 | NEGATIVE | The low ADX value for OFG suggests a weak or negative trend. |
42
-0.1 (-0.24%)
OFG BANCORP / OFG FAQ
What is the ChartMill technical rating of OFG BANCORP (OFG) stock?
ChartMill assigns a technical rating of 4 / 10 to OFG.
What is the trend direction for OFG stock?
The current trend direction for OFG BANCORP (OFG) is Bullish.
Can you provide the RSI signal for OFG BANCORP?
OFG BANCORP (OFG) has an RSI value of 57.1775. This indicates that the stock is currently neutral.
Can you provide the short term momentum for OFG BANCORP?
The short term momentum for OFG BANCORP (OFG) is positive.
What is the support and resistance level for OFG stock?
OFG BANCORP (OFG) has a support level at 39.7 and a resistance level at 42.27. Check the full technical report for our detailed analysis of OFG support and resistance levels.