OCEAN POWER TECHNOLOGIES INC (OPTT) Stock Technical Analysis
NYSEARCA:OPTT - NYSE Arca - US6748705067 - Common Stock - Currency: USD
Overall OPTT gets a technical rating of 7 out of 10. OPTT has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
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.
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 95 other stocks in this industry. OPTT outperforms 92% of them.
OPTT has an average volume of 4406930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, OPTT did better than 97% of all other 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 0.39 - 0.62 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
OPTT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 0.50, a Stop Loss order could be placed below this zone.
More info and screens
0.35
0.59
When analyzing the support we can see 4 important areas.
- A support zone ranging from 0.50 to 0.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @0.41 from a trend line in the weekly time frame.
- Support @0.40 from a trend line in the daily time frame.
- Support @0.35 from a trend line in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 0.54 to 0.54. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @0.57 from a trend line in the daily time frame.
- A resistance zone ranging from 0.58 to 0.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 97.61 | POSITIVE | OPTT has a high relative strength, it outperformed 97.61% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OPTT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of OPTT is above a declining 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) | 52.41 | 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) | 44.19 | NEUTRAL | The Stochastics value for OPTT is a neutral value. |
| Average True Range in percent/ATR (20) | 9.36 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 21.19 | NEUTRAL | The ADX value for OPTT suggests a possible start of a new 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)
0.5133
-0.02 (-4.07%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryElectrical Equipment
Performance
% Chg-4.07%
1 Week-3.15%
2 Weeks-6.67%
1 Month24.95%
3 Month-14.19%
6 Month2.66%
12 Month184.85%
2 Year-1.29%
3 Year-31.56%
5 Year22.45%
10 Year-99.64%
15 Year-99.96%
Volatility
ATR(14)0.05
ATR(20)%9.36%
ATR Inc-39.96%
Range Today0.03
ADR(20)0.04
ADR(20)%8.71%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS97.61
Mansfield2.78
10 Day High0.62
10 Day Low0.47
20 Day High0.62
20 Day Low0.39
52 Week High1.75
52 Week Low0.12
CS1 End0.5
CR1 Start0.54
Volume & EV
DER(3)-2.54%
DER(5)2.01%
Volume2.59M
Volume Incr-24.15%
Vol(5)3.23M
Vol(50)4.41M