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 scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- When comparing the yearly performance of all stocks, OPTT is a bad performer in the overall market: 87% of all stocks are doing better.
- OPTT is part of the Electrical Equipment industry. There are 92 other stocks in this industry, of which 73% are performing better than OPTT.
- 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.
- OPTT has an average volume of 5429000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month OPTT has a been trading in the 0.34 - 0.41 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.
OPTT Weekly and Daily overview Charts
OPTT Setup Rating and Analysis
OPTT has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 0.39. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.34, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for OPTT 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
OPTT Support and Resistance Analysis
0.33
2 important support areas can be observed.
- A support zone ranging from 0.34 to 0.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 0.33 to 0.33. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 4 important resistance areas.
- A resistance zone ranging from 0.39 to 0.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @0.40 from a trend line in the weekly time frame.
- Resistance @0.45 from a trend line in the weekly time frame.
- Resistance @0.63 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 | 13.45 | NEGATIVE | OPTT has a low relative strength, it was outperformed by 86.55% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of OPTT is below the rising 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) | 48.52 | 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) | 24.48 | NEUTRAL | The Stochastics value for OPTT is a neutral value. |
| Average True Range in percent/ATR (20) | 5.41 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 7.92 | 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
0.3663
+0.01 (+1.38%)
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 48.5222. 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.