INVESCO MUNICIPAL INCOME OPP (OIA) Stock Technical Analysis
USA - NYSE:OIA - US46132X1019
We assign a technical rating of 7 out of 10 to OIA. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, OIA is a bad performer.
Besides having an excellent technical rating, OIA also presents a decent setup pattern. 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. There is a resistance zone just above the current price starting at 6.16. Right above this resistance zone may be a good entry point.
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5.45
When analyzing the support we notice one important area.
- A support zone ranging from 5.51 to 5.62. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 6.16 to 6.19. This zone is formed by a combination of multiple trend lines 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 | UP | POSITIVE | The long term trend for OIA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OIA is up. |
| ChartMill Relative Strength | 28.49 | NEGATIVE | OIA has a low relative strength, it was outperformed by 71.51% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OIA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OIA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of OIA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 67.57 | NEUTRAL | The RSI value for OIA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests OIA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 80.62 | OVERBOUGHT | The high Stochastics value suggests OIA may be overbought. |
| Average True Range in percent/ATR (20) | 1.39 | LOW VOLATILITY | The low ATR as a percentage value for OIA suggests low volalility. |
| Average Directional Index/ADX (14) | 44.34 | POSITIVE | The high ADX value value for OIA suggests a strong 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 |
|---|---|---|---|
| 6.20 | 5.90 | 0.30 (4.84%) | 20.67% |
| An entry @6.20. This is a Buy Stop order right above the resistance zone. | An exit @5.90. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.30 points, which is 4.84%. | For a 1.00% total portfolio risk, you can invest 20.67% 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.
6.12
+0.06 (+0.99%)