Direxion Daily Oil Services Bull 2x Shares (ONG) Stock Technical Analysis
USA - NYSEARCA:ONG - US25460G4358 - ETF
28.9753 USD
-1.13 (-3.74%)
Overall ONG gets a technical rating of 1 out of 10. ONG's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the yearly performance of all stocks, ONG is a bad performer in the overall market: 80% of all stocks are doing better.
Warning: ONG has an average volume of 9996 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
ONG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ONG is lagging the market.
In the last month ONG has a been trading in the 24.02 - 33.70 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
ONG has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
24.87
43.94
We found 2 important support areas.
- A support zone ranging from 26.29 to 26.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 25.12 to 25.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 4 important resistance areas.
- Resistance @31.25 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 32.36 to 32.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @42.68 from a horizontal line in the weekly time frame.
- Resistance @43.50 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 ONG is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ONG is down. |
| ChartMill Relative Strength | 20.27 | NEGATIVE | ONG has a low relative strength, it was outperformed by 79.73% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of ONG is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of ONG is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of ONG is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 42.22 | NEUTRAL | The RSI value for ONG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.25 | POSITIVE | The MACD value suggests ONG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 28.61 | NEUTRAL | The Stochastics value for ONG is a neutral value. |
| Average True Range in percent/ATR (20) | 4.91 | MEDIUM VOLATILITY | The ATR as a percentage value for ONG suggests some volalility. |
| Average Directional Index/ADX (14) | 12.68 | NEGATIVE | The low ADX value for ONG 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)
Direxion Daily Oil Services Bull 2x Shares
NYSEARCA:ONG (4/21/2023, 8:04:02 PM)
28.9753
-1.13 (-3.74%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-3.74%
1 Week-7.26%
2 Weeks-1.04%
1 Month13.53%
3 Month-29.13%
6 Month-8.54%
12 Month-23.57%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.42
ATR(20)%4.91%
ATR Inc8.17%
Range Today1.06
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
CRS20.27
Mansfield-1.17
10 Day High31.88
10 Day Low28.69
20 Day High33.7
20 Day Low24.02
52 Week High46.68
52 Week Low16.68
CS1 End26.41
CR1 Start31.25
Volume & EV
DER(3)-4.92%
DER(5)-2.33%
Volume9.70K
Volume Incr-20.73%
Vol(5)8.68K
Vol(50)10.00K