ONTO INNOVATION INC (ONTO) Stock Technical Analysis
NYSE:ONTO - New York Stock Exchange, Inc. - US6833441057 - Common Stock - Currency: USD
Overall ONTO gets a technical rating of 2 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. ONTO was also a bad performer in the overall market in the last year.
Although the technical rating is bad, ONTO does present a nice setup opportunity. 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 103.90. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 101.68, a Stop Loss order could be placed below this zone.
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95.20
When analyzing the support we can see 2 important areas.
- A support zone ranging from 99.42 to 101.68. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @96.16 from a trend line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 103.90 to 104.04. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @217.79 from a horizontal line in the weekly time frame.
- Resistance @224.94 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 ONTO is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ONTO is up. |
| ChartMill Relative Strength | 4.79 | NEGATIVE | ONTO has a low relative strength, it was outperformed by 95.21% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ONTO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ONTO is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ONTO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.98 | NEUTRAL | The RSI value for ONTO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.71 | POSITIVE | The MACD value suggests ONTO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 75.82 | NEUTRAL | The Stochastics value for ONTO is a neutral value. |
| Average True Range in percent/ATR (20) | 3.63 | MEDIUM VOLATILITY | The ATR as a percentage value for ONTO suggests some volalility. |
| Average Directional Index/ADX (14) | 8.34 | NEGATIVE | The low ADX value for ONTO suggests a weak or negative trend. |
101.76
-1.11 (-1.08%)