iPath Pure Beta Crude Oil (OIL) Stock Technical Analysis
USA - NYSEARCA:OIL - US06740P2213 - ETF
28.42 USD
+0.27 (+0.96%)
We assign a technical rating of 2 out of 10 to OIL. Recently some decent action could be observed, but in the medium term time frame this is still negative. OIL was also a bad performer in the overall market in the last year.
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.
82% of all other stocks performed better in the past year than OIL.
OIL is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month OIL has a been trading in the 26.45 - 28.80 range, which is quite wide. It is currently trading near the high of this range.
Although the technical rating is bad, OIL does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price.
More info and screens
25.38
31.68
When analyzing the support we can see 4 important areas.
- Support @28.21 from a horizontal line in the daily time frame.
- A support zone ranging from 27.66 to 27.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 26.29 to 26.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 25.64 to 25.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- Resistance @29.90 from a trend line in the weekly time frame.
- A resistance zone ranging from 30.64 to 31.37. 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 | DOWN | NEGATIVE | The long term trend for OIL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for OIL is neutral. |
| ChartMill Relative Strength | 18.78 | NEGATIVE | OIL has a low relative strength, it was outperformed by 81.22% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OIL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of OIL is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OIL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.74 | NEUTRAL | The RSI value for OIL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests OIL has a positive trend. |
| Stochastics (14,3) | 72.48 | NEUTRAL | The Stochastics value for OIL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.41 | MEDIUM VOLATILITY | The ATR as a percentage value for OIL suggests some volalility. |
| Average Directional Index/ADX (14) | 11.73 | NEGATIVE | The low ADX value for OIL 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)
NYSEARCA:OIL (6/8/2023, 8:04:01 PM)
28.42
+0.27 (+0.96%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.96%
1 Week4.14%
2 Weeks-0.53%
1 Month1.27%
3 Month-2.6%
6 Month4.37%
12 Month-26.56%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.69
ATR(20)%2.41%
ATR Inc-34.13%
Range Today0.41
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS18.78
Mansfield-1.32
10 Day High28.46
10 Day Low26.45
20 Day High28.8
20 Day Low26.45
52 Week High39.69
52 Week Low25.31
CS1 End28.21
CR1 Start29.9
Volume & EV
DER(3)-1.84%
DER(5)-0.71%
Volume10.30K
Volume Incr-10.23%
Vol(5)38.76K
Vol(50)42.49K