ONITY GROUP INC (ONIT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ONIT - US6757466064 - Common Stock
Taking everything into account, ONIT scores 10 out of 10 in our technical rating. 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.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, ONIT did better than 90% of all other stocks.
- ONIT is one of the better performing stocks in the Financial Services industry, it outperforms 97% of 97 stocks in the same industry.
- ONIT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ONIT is lagging the market slightly.
- ONIT is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
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 51.98. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for ONIT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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5 important support areas can be observed.
- A support zone ranging from 50.67 to 51.43. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @47.23 from a trend line in the daily time frame.
- Support @43.04 from a horizontal line in the daily time frame.
- Support @40.31 from a trend line in the weekly time frame.
- Support @36.04 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 51.98 to 53.36. 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 | 90.75 | POSITIVE | ONIT has a high relative strength, it outperformed 90.75% 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) | 66.64 | NEUTRAL | The RSI value for ONIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.2 | POSITIVE | The MACD value suggests ONIT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 76.8 | NEUTRAL | The Stochastics value for ONIT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.15 | MEDIUM VOLATILITY | The ATR as a percentage value for ONIT suggests some volalility. |
| Average Directional Index/ADX (14) | 22.05 | NEUTRAL | The ADX value for ONIT suggests a possible start of a new 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 |
|---|---|---|---|
| 53.37 | 50.66 | 2.71 (5.08%) | 19.69% |
| An entry @53.37. This is a Buy Stop order right above the resistance zone. | An exit @50.66. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.71 points, which is 5.08%. | For a 1.00% total portfolio risk, you can invest 19.69% 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.
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+0.32 (+0.62%)
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.
Can you provide the trend direction for ONITY GROUP INC?
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 66.6365. This indicates that the stock is currently neutral.
Can you provide the MACD signal for ONITY GROUP INC?
The MACD indicator for ONITY GROUP INC (ONIT) has a value of 0.199024, indicating a bearish trend.
What is the short term momentum for ONIT stock?
The short term momentum for ONITY GROUP INC (ONIT) is positive.