PENNANTPARK INVESTMENT CORP (PNNT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:PNNT - US7080621045 - Common Stock
We assign a technical rating of 0 out of 10 to PNNT. PNNT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- 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.
- When comparing the yearly performance of all stocks, PNNT is a bad performer in the overall market: 79% of all stocks are doing better.
- PNNT is part of the Capital Markets industry. There are 238 other stocks in this industry, of which 66% 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 in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, PNNT does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 5.99, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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 5.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 4 important resistance areas.
- A resistance zone ranging from 6.06 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 | NEUTRAL | NEUTRAL | The short term trend for PNNT is neutral. |
| ChartMill Relative Strength | 21.64 | NEGATIVE | PNNT has a low relative strength, it was outperformed by 78.36% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of PNNT is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of PNNT is below 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) | 50.18 | 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, although the MACD value is declining. |
| Stochastics (14,3) | 79.04 | NEUTRAL | The Stochastics value for PNNT is a neutral value. |
| Average True Range in percent/ATR (20) | 2.05 | MEDIUM VOLATILITY | The ATR as a percentage value for PNNT suggests some volalility. |
| Average Directional Index/ADX (14) | 17.76 | NEGATIVE | The low ADX value for PNNT suggests a weak or negative trend. |
6.04
-0.14 (-2.27%)
PENNANTPARK INVESTMENT CORP / PNNT FAQ
What is the ChartMill technical rating of PENNANTPARK INVESTMENT CORP (PNNT) stock?
ChartMill assigns a technical rating of 0 / 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 50.1808. 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 0.0252896, indicating a bearish trend.