ONTO Technical Analysis - ONTO INNOVATION INC

Technical Rating and Analysis

Taking everything into account, ONTO scores 8 out of 10 in our technical rating. Although ONTO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

Both the short term and long term trends are positive. This is a very positive sign.

In the last month ONTO has a been trading in the 102.91 - 150.21 range, which is quite wide. It is currently trading near the high of this range.

ONTO has an average volume of 1516960 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the performance of all stocks over the past year, ONTO turns out to be only a medium performer in the overall market: it outperformed 53% of all stocks.

ONTO is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry, ONTO did better than 40% of them.

ONTO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ONTO is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ONTO INNOVATION INC / ONTO Weekly stock chart

ONTO INNOVATION INC / ONTO Daily stock chart

Setup Rating and Analysis

Although ONTO has an excellent technical rating, it does not present a decent entry opportunity 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

87.62

200.07

We found 5 important support areas.

Support @127.57 from a horizontal line in the daily time frame.
Support @115.09 from a trend line in the daily time frame.
Support @99.13 from a trend line in the weekly time frame.
Support @91.94 from a horizontal line in the daily time frame.
Support @88.50 from a horizontal line in the daily time frame.

We can see 2 important resistance areas.

A resistance zone ranging from 145.29 to 145.31. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @198.09 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

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 ONTO is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ONTO is up.
ChartMill Relative Strength	53.31	NEUTRAL	ONTO is not amongst the best or worst performers 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)	UP	POSITIVE	The current price of ONTO is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of ONTO is above a declining SMA(200).
Relative Strength Index/RSI (14)	75.32	OVERBOUGHT	The high RSI value suggests ONTO may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	1.61	POSITIVE	The MACD value suggests ONTO has a positive trend.
Stochastics (14,3)	87.26	OVERBOUGHT	The high Stochastics value suggests ONTO may be overbought.
Average True Range in percent/ATR (20)	4.41	MEDIUM VOLATILITY	The ATR as a percentage value for ONTO suggests some volalility.
Average Directional Index/ADX (14)	33.27	POSITIVE	The high ADX value value for ONTO suggests a strong trend.