OCEAN POWER TECHNOLOGIES INC (OPTT) Stock Technical Analysis
NYSEARCA:OPTT - NYSE Arca - US6748705067 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to OPTT. In the last year, OPTT was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
OPTT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
Both the short term and long term trends are positive. This is a very positive sign.
OPTT is part of the Electrical Equipment industry. There are 94 other stocks in this industry. OPTT outperforms 75% of them.
OPTT has an average volume of 4108190 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that OPTT is one of the better performing stocks in the market, outperforming 88% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
In the last month OPTT has a been trading in the 0.45 - 0.65 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
Although OPTT 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.
More info and screens
0.46
0.59
4 important support areas can be observed.
- A support zone ranging from 0.51 to 0.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @0.49 from a trend line in the daily time frame.
- A support zone ranging from 0.47 to 0.47. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @0.46 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 0.57 to 0.57. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @0.58 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 | UP | POSITIVE | The long term trend for OPTT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OPTT is up. |
| ChartMill Relative Strength | 88.97 | POSITIVE | OPTT has a high relative strength, it outperformed 88.97% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of OPTT is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OPTT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OPTT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 53.17 | NEUTRAL | The RSI value for OPTT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests OPTT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 63.75 | NEUTRAL | The Stochastics value for OPTT is a neutral value. |
| Average True Range in percent/ATR (20) | 7.84 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 17.06 | NEGATIVE | The low ADX value for OPTT suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
0.535
-0.04 (-7.2%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryElectrical Equipment
Performance
% Chg-7.2%
1 Week5.42%
2 Weeks3.04%
1 Month-2.03%
3 Month29.23%
6 Month-53.48%
12 Month45.94%
2 Year-10.23%
3 Year-38.8%
5 Year-35.15%
10 Year-99.5%
15 Year-99.95%
Volatility
ATR(14)0.04
ATR(20)%7.84%
ATR Inc151.45%
Range Today0.05
ADR(20)0.04
ADR(20)%7.66%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS88.97
Mansfield1.7
10 Day High0.65
10 Day Low0.45
20 Day High0.65
20 Day Low0.45
52 Week High1.75
52 Week Low0.14
CS1 End0.51
CR1 Start0.57
Volume & EV
DER(3)-0.54%
DER(5)1.6%
Volume3.69M
Volume Incr86.36%
Vol(5)6.89M
Vol(50)4.11M