PENUMBRA INC (PEN) Stock Technical Analysis
USA - NYSE:PEN - US70975L1070 - Common Stock
We assign a technical rating of 9 out of 10 to PEN. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, PEN is showing a nice and steady performance.
Besides having an excellent technical rating, PEN also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 282.95. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 279.78, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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3 important support areas can be observed.
- A support zone ranging from 277.51 to 282.95. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 256.06 to 261.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 228.86 to 230.06. 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 PEN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PEN is up. |
| ChartMill Relative Strength | 80.36 | POSITIVE | PEN has a high relative strength, it outperformed 80.36% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PEN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PEN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PEN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.01 | NEUTRAL | The RSI value for PEN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 3.13 | POSITIVE | The MACD value suggests PEN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.89 | OVERBOUGHT | The high Stochastics value suggests PEN may be overbought. |
| Average True Range in percent/ATR (20) | 3.79 | MEDIUM VOLATILITY | The ATR as a percentage value for PEN suggests some volalility. |
| Average Directional Index/ADX (14) | 32.6 | POSITIVE | The high ADX value value for PEN suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 282.96 | 277.50 | 5.46 (1.93%) | 25.00% |
| An entry @282.96. This is a Buy Stop order right above the resistance zone. | An exit @277.50. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 5.46 points, which is 1.93%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.48%. |
- The distance between exit and entry is rather small compared to the average daily movement of PEN. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
288.47
+8.68 (+3.1%)
PENUMBRA INC / PEN FAQ
What is the ChartMill technical rating of PENUMBRA INC (PEN) stock?
ChartMill assigns a technical rating of 9 / 10 to PEN.
Can you provide the trend direction for PENUMBRA INC?
The current trend direction for PENUMBRA INC (PEN) is Bullish.
What is the RSI signal for PEN stock?
PENUMBRA INC (PEN) has an RSI value of 64.0076. This indicates that the stock is currently neutral.
What is the short term momentum for PENUMBRA INC (PEN) stock?
The short term momentum for PENUMBRA INC (PEN) is positive.
What is the support and resistance level for PEN stock?
PENUMBRA INC (PEN) has a support level at 279.78 and a resistance level at 282.95. Check the full technical report for our detailed analysis of PEN support and resistance levels.