ONITY GROUP INC (ONIT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ONIT - US6757466064 - Common Stock
We assign a technical rating of 10 out of 10 to ONIT. Both in the recent history as in the last year, ONIT has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, ONIT 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 45.53. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 43.62, a Stop Loss order could be placed below this zone. 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
35.68
We found 3 important support areas.
- A support zone ranging from 42.80 to 43.62. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 38.18 to 38.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @36.04 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 45.53 to 45.54. 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 ONIT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ONIT is up. |
| ChartMill Relative Strength | 83.31 | POSITIVE | ONIT has a high relative strength, it outperformed 83.31% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ONIT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ONIT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ONIT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.83 | NEUTRAL | The RSI value for ONIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests ONIT has a negative trend. |
| Stochastics (14,3) | 76.52 | NEUTRAL | The Stochastics value for ONIT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.79 | MEDIUM VOLATILITY | The ATR as a percentage value for ONIT suggests some volalility. |
| Average Directional Index/ADX (14) | 36.07 | POSITIVE | The high ADX value value for ONIT 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 |
|---|---|---|---|
| 45.55 | 42.79 | 2.76 (6.06%) | 16.50% |
| An entry @45.55. This is a Buy Stop order right above the resistance zone. | An exit @42.79. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.76 points, which is 6.06%. | When investing 16.50% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
43.63
+0.03 (+0.07%)
ONITY GROUP INC / ONIT FAQ
What is the ChartMill technical rating of ONITY GROUP INC (ONIT) stock?
ChartMill assigns a technical rating of 10 / 10 to ONIT.
What is the trend direction for ONIT stock?
The current trend direction for ONITY GROUP INC (ONIT) is Bullish.
What is the RSI signal for ONIT stock?
ONITY GROUP INC (ONIT) has an RSI value of 56.8309. This indicates that the stock is currently neutral.
What is the buy/sell signal for ONIT stock?
The buy/sell signal for ONITY GROUP INC (ONIT) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for ONITY GROUP INC?
ONITY GROUP INC (ONIT) has a support level at 43.62 and a resistance level at 45.53. Check the full technical report for our detailed analysis of ONIT support and resistance levels.