ONITY GROUP INC (ONIT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ONIT - US6757466064 - Common Stock
Overall ONIT gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ONIT is showing a nice and steady performance.
ONIT has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 43.04, 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
When analyzing the support we can see 3 important areas.
- A support zone ranging from 43.03 to 43.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 38.49 to 38.68. 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 can see 2 important resistance areas.
- A resistance zone ranging from 43.40 to 43.96. 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 45.53 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 | 76.11 | POSITIVE | ONIT has a high relative strength, it outperformed 76.11% 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) | 53.82 | NEUTRAL | The RSI value for ONIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.12 | NEGATIVE | The MACD value suggests ONIT has a negative trend. |
| Stochastics (14,3) | 66.67 | NEUTRAL | The Stochastics value for ONIT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.8 | MEDIUM VOLATILITY | The ATR as a percentage value for ONIT suggests some volalility. |
| Average Directional Index/ADX (14) | 35.35 | 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 |
|---|---|---|---|
| 43.97 | 43.02 | 0.95 (2.16%) | 25.00% |
| An entry @43.97. This is a Buy Stop order right above the resistance zone. | An exit @43.02. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.95 points, which is 2.16%. | For a 0.54% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of ONIT. Please evaluate whether better entry and exit points can be found.
- 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.
43.04
-0.59 (-1.35%)
ONITY GROUP INC / ONIT FAQ
What is the ChartMill technical rating of ONITY GROUP INC (ONIT) stock?
ChartMill assigns a technical rating of 9 / 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 53.821. 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 43.04 and a resistance level at 43.4. Check the full technical report for our detailed analysis of ONIT support and resistance levels.