ORMAT TECHNOLOGIES INC (ORA) Stock Technical Analysis
NYSE:ORA • US6866881021
Taking everything into account, ORA scores 4 out of 10 in our technical rating. Although ORA 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.
- In the last month ORA has a been trading in the 100.84 - 132.58 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
- When comparing the yearly performance of all stocks, we notice that ORA is one of the better performing stocks in the market, outperforming 80% of all stocks. We also observe that the gains produced by ORA over the past year are nicely spread over this period.
- The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
- ORA is part of the Independent Power and Renewable Electricity Producers industry. There are 20 other stocks in this industry, ORA did better than 47% of them.
- ORA is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ORA is lagging the market.
ORA 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.
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62.48
When analyzing the support we can see 2 important areas.
- A support zone ranging from 103.70 to 103.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @63.11 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 117.06 to 119.08. This zone is formed by a combination of multiple trend lines and important moving averages 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 ORA is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ORA is down. |
| ChartMill Relative Strength | 80.44 | POSITIVE | ORA has a high relative strength, it outperformed 80.44% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ORA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of ORA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ORA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 35.85 | NEUTRAL | The RSI value for ORA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -2.03 | NEGATIVE | The MACD value suggests ORA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 12.78 | OVERSOLD | The low Stochastics value suggests ORA may be oversold. |
| Average True Range in percent/ATR (20) | 4.58 | MEDIUM VOLATILITY | The ATR as a percentage value for ORA suggests some volalility. |
| Average Directional Index/ADX (14) | 22.56 | NEUTRAL | The ADX value for ORA suggests a possible start of a new trend. |
107.15
+3.45 (+3.33%)
ORMAT TECHNOLOGIES INC / ORA FAQ
What is the ChartMill technical rating of ORMAT TECHNOLOGIES INC (ORA) stock?
ChartMill assigns a technical rating of 4 / 10 to ORA.
Can you provide the trend direction for ORMAT TECHNOLOGIES INC?
The current trend direction for ORMAT TECHNOLOGIES INC (ORA) is Bearish.
Can you provide the RSI signal for ORMAT TECHNOLOGIES INC?
ORMAT TECHNOLOGIES INC (ORA) has an RSI value of 35.8499. This indicates that the stock is currently neutral.
What is the MACD signal for ORMAT TECHNOLOGIES INC (ORA) stock?
The MACD indicator for ORMAT TECHNOLOGIES INC (ORA) has a value of -2.03465, indicating a bearish trend.
What are the support and resistance levels for ORMAT TECHNOLOGIES INC (ORA) stock?
ORMAT TECHNOLOGIES INC (ORA) has a support level at 103.7 and a resistance level at 117.06. Check the full technical report for our detailed analysis of ORA support and resistance levels.