We assign a technical rating of 6 out of 10 to OPTT. OPTT has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
- When comparing the yearly performance of all stocks, OPTT is a bad performer in the overall market: 84% of all stocks are doing better.
- OPTT is part of the Electrical Equipment industry. There are 91 other stocks in this industry, of which 64% are performing better than OPTT.
- The long and short term trends are both positive. This is looking good!
- OPTT has an average volume of 14507300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- OPTT is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.
- In the last month OPTT has a been trading in the 0.33 - 0.72 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.
OPTT has an average technical rating and it also does not offer a high quality setup 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
0.33
We found 2 important support areas.
- Support @0.46 from a trend line in the daily time frame.
- Support @0.33 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance 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.
- Resistance @0.69 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 | 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 | 16.13 | NEGATIVE | OPTT has a low relative strength, it was outperformed by 83.87% 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) | UP | POSITIVE | The current price of OPTT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of OPTT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.79 | NEUTRAL | The RSI value for OPTT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests OPTT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 39.86 | NEUTRAL | The Stochastics value for OPTT is a neutral value. |
| Average True Range in percent/ATR (20) | 16.95 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 30.98 | POSITIVE | The high ADX value value for OPTT suggests a strong trend. |
0.4775
-0.02 (-4.44%)
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 6 / 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 Bullish.
Can you provide the RSI signal for OCEAN POWER TECHNOLOGIES INC?
OCEAN POWER TECHNOLOGIES INC (OPTT) has an RSI value of 50.7897. 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 buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for OCEAN POWER TECHNOLOGIES INC?
OCEAN POWER TECHNOLOGIES INC (OPTT) has a support level at 0.46 and a resistance level at 0.51. Check the full technical report for our detailed analysis of OPTT support and resistance levels.