OCEAN POWER TECHNOLOGIES INC (OPTT) Technical Analysis
NYSEARCA:OPTT • US6748705067
Current stock price
OPTT Technical Rating and Analysis
Overall OPTT gets a technical rating of 1 out of 10. OPTT has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- OPTT is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so OPTT is lagging the market.
- In the last month OPTT has a been trading in the 0.32 - 0.52 range, which is quite wide. It is currently trading near the lows of this range.
- OPTT has an average volume of 13126500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, OPTT outperforms 55% of them, which is more or less in line with the market.
- OPTT is an average performer in the Electrical Equipment industry, it outperforms 49% of 92 stocks in the same industry.
- Considerably lower volume is observed in the last couple of days.
OPTT Weekly and Daily overview Charts
OPTT Setup Rating and Analysis
Although the technical rating is bad, OPTT does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 0.38. Right above this resistance zone may be a good entry point.
More info and screens
OPTT Support and Resistance Analysis
0.31
When analyzing the support we notice one important area.
- Support @0.31 from a horizontal line in the weekly time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 0.38 to 0.38. 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 0.39 to 0.39. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
- A resistance zone ranging from 0.43 to 0.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @0.65 from a trend line in the daily time frame.
OPTT 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 | DOWN | NEGATIVE | The long term trend for OPTT is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for OPTT is down. |
| ChartMill Relative Strength | 55.65 | NEUTRAL | OPTT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of OPTT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of OPTT is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OPTT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 43.26 | NEUTRAL | The RSI value for OPTT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests OPTT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 11.92 | OVERSOLD | The low Stochastics value suggests OPTT may be oversold. |
| Average True Range in percent/ATR (20) | 10.93 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 11.55 | NEGATIVE | The low ADX value for OPTT suggests a weak or negative trend. |
OPTT Chart- and CandleStick Pattern Analysis
OPTT Technicals: Chart, Performance Metrics, Trend & Indicators
0.35
+0.02 (+6.48%)
OCEAN POWER TECHNOLOGIES INC / OPTT TA FAQ
What is the ChartMill technical rating of OCEAN POWER TECHNOLOGIES INC (OPTT) stock?
ChartMill assigns a technical rating of 1 / 10 to OPTT.
What is the current trend direction of OCEAN POWER TECHNOLOGIES INC (OPTT) stock?
The current trend direction for OCEAN POWER TECHNOLOGIES INC (OPTT) is Bearish.
What is the RSI signal for OPTT stock?
OCEAN POWER TECHNOLOGIES INC (OPTT) has an RSI value of 43.2573. This indicates that the stock is currently neutral.
Can you provide the short term momentum for OCEAN POWER TECHNOLOGIES INC?
The short term momentum for OCEAN POWER TECHNOLOGIES INC (OPTT) is negative.
What is the buy/sell signal for OPTT stock?
The buy/sell signal for OCEAN POWER TECHNOLOGIES INC (OPTT) is sell as both the short term and long term trends are negative.