OPAL FUELS INC-A (OPAL) Technical Analysis
NASDAQ:OPAL • US68347P1030
Current stock price
OPAL Technical Rating and Analysis
We assign a technical rating of 8 out of 10 to OPAL. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, OPAL is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that OPAL is one of the better performing stocks in the market, outperforming 72% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
- OPAL is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 45% of 209 stocks in the same industry.
- OPAL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so OPAL is lagging the market.
- In the last month OPAL has a been trading in the 2.19 - 2.69 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
OPAL Weekly and Daily overview Charts
OPAL Setup Rating and Analysis
OPAL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.70. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for OPAL 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.
More info and screens
OPAL Support and Resistance Analysis
2.03
We found 4 important support areas.
- A support zone ranging from 2.41 to 2.43. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @2.13 from a trend line in the weekly time frame.
- Support @2.09 from a horizontal line in the weekly time frame.
- Strong support @2.05 from a horizontal line in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 2.70 to 2.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.85 from a trend line in the weekly time frame.
- Resistance @2.94 from a trend line in the weekly time frame.
OPAL 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 OPAL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OPAL is up. |
| ChartMill Relative Strength | 72.72 | POSITIVE | OPAL has a high relative strength, it outperformed 72.72% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OPAL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OPAL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of OPAL is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.57 | NEUTRAL | The RSI value for OPAL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests OPAL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 50.04 | NEUTRAL | The Stochastics value for OPAL is a neutral value. |
| Average True Range in percent/ATR (20) | 4.69 | MEDIUM VOLATILITY | The ATR as a percentage value for OPAL suggests some volalility. |
| Average Directional Index/ADX (14) | 28.17 | POSITIVE | The high ADX value value for OPAL suggests a strong trend. |
OPAL Chart- and CandleStick Pattern Analysis
OPAL Example Setup
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 |
|---|---|---|---|
| 2.50 | 2.40 | 0.10 (3.85%) | 25.00% |
| An entry @2.50. This is a Buy Stop order right above the 10 day moving average. | An exit @2.40. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.10 points, which is 3.85%. | For a 0.96% 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 OPAL. 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.
OPAL Technicals: Chart, Performance Metrics, Trend & Indicators
2.48
-0.01 (-0.4%)
OPAL FUELS INC-A / OPAL TA FAQ
What is the ChartMill technical rating of OPAL FUELS INC-A (OPAL) stock?
ChartMill assigns a technical rating of 8 / 10 to OPAL.
Can you provide the trend direction for OPAL FUELS INC-A?
The current trend direction for OPAL FUELS INC-A (OPAL) is Bullish.
What is the RSI signal for OPAL stock?
OPAL FUELS INC-A (OPAL) has an RSI value of 54.5669. This indicates that the stock is currently neutral.
What is the buy/sell signal for OPAL stock?
The buy/sell signal for OPAL FUELS INC-A (OPAL) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for OPAL FUELS INC-A (OPAL) stock?
OPAL FUELS INC-A (OPAL) has a support level at 2.43 and a resistance level at 2.7. Check the full technical report for our detailed analysis of OPAL support and resistance levels.