OCEAN POWER TECHNOLOGIES INC (OPTT) Stock Technical Analysis
USA - NYSEARCA:OPTT - US6748705067 - Common Stock
Overall OPTT gets a technical rating of 4 out of 10. Although OPTT is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
OPTT has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 0.48, a Stop Loss order could be placed below this zone.
More info and screens
0.47
2 important support areas can be observed.
- A support zone ranging from 0.48 to 0.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @0.47 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 5 important areas.
- A resistance zone ranging from 0.53 to 0.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @0.58 from a horizontal line in the weekly time frame.
- Resistance @0.59 from a horizontal line in the daily time frame.
- Resistance @0.62 from a trend line in the daily time frame.
- Resistance @0.80 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 | NEUTRAL | NEUTRAL | The long term trend for OPTT is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for OPTT is neutral. |
| ChartMill Relative Strength | 96.7 | POSITIVE | OPTT has a high relative strength, it outperformed 96.7% 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) | 48.11 | NEUTRAL | The RSI value for OPTT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests OPTT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 13.48 | OVERSOLD | The low Stochastics value suggests OPTT may be oversold. |
| Average True Range in percent/ATR (20) | 9.41 | HIGH VOLATILITY | The high ATR as a percentage value for OPTT suggests high volalility. |
| Average Directional Index/ADX (14) | 25.78 | POSITIVE | The high ADX value value for OPTT suggests a strong trend. |
0.52
+0.01 (+2.2%)
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 4 / 10 to OPTT.
Can you provide the trend direction for OCEAN POWER TECHNOLOGIES INC?
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 48.1097. This indicates that the stock is currently neutral.
What is the MACD signal for OCEAN POWER TECHNOLOGIES INC (OPTT) stock?
The MACD indicator for OCEAN POWER TECHNOLOGIES INC (OPTT) has a value of -0.00568879, indicating a bearish trend.
What is the short term momentum for OCEAN POWER TECHNOLOGIES INC (OPTT) stock?
The short term momentum for OCEAN POWER TECHNOLOGIES INC (OPTT) is neutral.