PEN Technical Analysis - PANORO ENERGY ASA

Technical Rating and Analysis

Overall PEN gets a technical rating of 1 out of 10. PEN's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

86% of all other stocks performed better in the past year than PEN.

PEN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month PEN has a been trading in the 22.30 - 24.10 range, which is quite wide. It is currently trading near the high of this range.

PEN is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 41% of 61 stocks in the same industry.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

PANORO ENERGY ASA / PEN Weekly stock chart

PANORO ENERGY ASA / PEN Daily stock chart

Setup Rating and Analysis

PEN has a poor technical rating and the quality of the setup is also only medium 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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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

22.13

27.00

2 important support areas can be observed.

A support zone ranging from 22.74 to 23.27. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @22.35 from a horizontal line in the daily time frame.

4 important resistance areas can be observed.

A resistance zone ranging from 24.01 to 24.34. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
Resistance @24.75 from a trend line in the daily time frame.
A resistance zone ranging from 25.55 to 25.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @26.73 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

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 PEN.OL is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for PEN.OL is neutral.
ChartMill Relative Strength	14.31	NEGATIVE	PEN.OL has a low relative strength, it was outperformed by 85.69% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of PEN.OL is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of PEN.OL is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of PEN.OL is below a declining SMA(200).
Relative Strength Index/RSI (14)	55.86	NEUTRAL	The RSI value for PEN.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.14	POSITIVE	The MACD value suggests PEN.OL has a positive trend.
Stochastics (14,3)	66.67	NEUTRAL	The Stochastics value for PEN.OL is a neutral value.
Average True Range in percent/ATR (20)	2.1	MEDIUM VOLATILITY	The ATR as a percentage value for PEN.OL suggests some volalility.
Average Directional Index/ADX (14)	15.13	NEGATIVE	The low ADX value for PEN.OL suggests a weak or negative trend.