OCEAN POWER TECHNOLOGIES INC (OPTT) Technical Analysis
NYSEARCA:OPTT • US6748705067
Taking everything into account, OPTT scores 1 out of 10 in our technical rating. 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.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- 78% of all other stocks performed better in the past year than OPTT.
- OPTT is one of the lesser performing stocks in the Electrical Equipment industry. 62% of 91 stocks in the same industry do better.
- OPTT is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so OPTT is lagging the market.
- OPTT is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
- OPTT has an average volume of 14983700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Considerably lower volume is observed in the last couple of days.
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 0.43. Right above this resistance zone may be a good entry point.
More info and screens
0.34
4 important support areas can be observed.
- Support @0.41 from a trend line in the daily time frame.
- Support @0.40 from a horizontal line in the daily time frame.
- A support zone ranging from 0.39 to 0.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @0.34 from a trend line in the weekly time frame.
We can see 4 important resistance areas.
- 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 @0.44 from a trend line in the weekly time frame.
- Resistance @0.46 from a trend line in the weekly time frame.
- Resistance @0.67 from a trend 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 | 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 | 22.29 | NEGATIVE | OPTT has a low relative strength, it was outperformed by 77.71% off all stocks 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) | UP | MIXED | The current price of OPTT is below the rising 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) | 45.47 | 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) | 44.08 | NEUTRAL | The Stochastics value for OPTT is a neutral value. |
| Average True Range in percent/ATR (20) | 6.81 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 8.93 | NEGATIVE | The low ADX value for OPTT suggests a weak or negative trend. |
OPTT Technicals: Chart, Performance Metrics, Trend & Indicators
0.41
0 (-0.65%)
OCEAN POWER TECHNOLOGIES INC / OPTT 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.
Can you provide the RSI signal for OCEAN POWER TECHNOLOGIES INC?
OCEAN POWER TECHNOLOGIES INC (OPTT) has an RSI value of 45.4706. This indicates that the stock is currently neutral.
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.
Can you provide the support and resistance levels for OCEAN POWER TECHNOLOGIES INC?
OCEAN POWER TECHNOLOGIES INC (OPTT) has a support level at 0.41 and a resistance level at 0.43. Check the full technical report for our detailed analysis of OPTT support and resistance levels.