PENNANTPARK INVESTMENT CORP (PNNT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:PNNT - US7080621045 - Common Stock
Taking everything into account, PNNT scores 2 out of 10 in our technical rating. In the past year, PNNT was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
- 77% of all other stocks performed better in the past year than PNNT.
- PNNT is part of the Capital Markets industry. There are 235 other stocks in this industry, of which 65% are performing better than PNNT.
- PNNT 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 PNNT has a been trading in the 5.78 - 6.22 range, which is quite wide. It is currently trading near the high of this range.
- The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
Although the technical rating is bad, PNNT does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 6.18. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 6.09, 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.
More info and screens
5.67
We found 1 important support area.
- A support zone ranging from 5.73 to 6.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 6.18 to 6.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @6.41 from a horizontal line in the daily time frame.
- Resistance @6.57 from a horizontal line in the daily time frame.
- A resistance zone ranging from 7.26 to 7.27. This zone is formed by a combination of multiple trend lines in the weekly 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 | DOWN | NEGATIVE | The long term trend for PNNT is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PNNT is up. |
| ChartMill Relative Strength | 23.24 | NEGATIVE | PNNT has a low relative strength, it was outperformed by 76.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PNNT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of PNNT is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PNNT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.44 | NEUTRAL | The RSI value for PNNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests PNNT has a positive trend. |
| Stochastics (14,3) | 82.32 | OVERBOUGHT | The high Stochastics value suggests PNNT may be overbought. |
| Average True Range in percent/ATR (20) | 1.94 | LOW VOLATILITY | The low ATR as a percentage value for PNNT suggests low volalility. |
| Average Directional Index/ADX (14) | 18.31 | NEGATIVE | The low ADX value for PNNT suggests a weak or negative trend. |
6.18
+0.02 (+0.32%)
PENNANTPARK INVESTMENT CORP / PNNT FAQ
What is the ChartMill technical rating of PENNANTPARK INVESTMENT CORP (PNNT) stock?
ChartMill assigns a technical rating of 2 / 10 to PNNT.
Can you provide the trend direction for PENNANTPARK INVESTMENT CORP?
The current trend direction for PENNANTPARK INVESTMENT CORP (PNNT) is Bearish.
What is the RSI signal for PNNT stock?
PENNANTPARK INVESTMENT CORP (PNNT) has an RSI value of 58.4369. This indicates that the stock is currently neutral.
Can you provide the MACD signal for PENNANTPARK INVESTMENT CORP?
The MACD indicator for PENNANTPARK INVESTMENT CORP (PNNT) has a value of 0.0341235, indicating a bearish trend.
Can you provide the buy/sell signal for PENNANTPARK INVESTMENT CORP?
The buy/sell signal for PENNANTPARK INVESTMENT CORP (PNNT) is hold as the short term and long term trends are mixed.