PRPL Technical Analysis - PURPLE INNOVATION INC

Technical Rating and Analysis

Overall PRPL gets a technical rating of 2 out of 10. PRPL has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.

In the last month PRPL has a been trading in the 0.82 - 1.09 range, which is quite wide. It is currently trading near the lows of this range.

PRPL is part of the Household Durables industry. There are 61 other stocks in this industry. PRPL outperforms 80% of them.

The long term trend is neutral, but the short term trend is negative. Better to stay away from this!

When comparing the performance of all stocks over the past year, PRPL turns out to be only a medium performer in the overall market: it outperformed 59% of all stocks.

PRPL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PRPL is lagging the market.

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

PURPLE INNOVATION INC / PRPL Weekly stock chart

PURPLE INNOVATION INC / PRPL Daily stock chart

Setup Rating and Analysis

PRPL has a poor technical rating and the quality of the setup is also not perfect 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

0.73

1.26

We found 2 important support areas.

A support zone ranging from 0.83 to 0.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @0.74 from a trend line in the daily time frame.

We can see 4 important resistance areas.

A resistance zone ranging from 0.96 to 0.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @1.08 from a trend line in the weekly time frame.
Resistance @1.13 from a trend line in the weekly time frame.
Resistance @1.25 from a horizontal line in the daily 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	NEUTRAL	NEUTRAL	The long term trend for PRPL is neutral.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for PRPL is down.
ChartMill Relative Strength	59.06	NEUTRAL	PRPL is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of PRPL is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of PRPL is below the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of PRPL is above the rising SMA(200).
Relative Strength Index/RSI (14)	34.31	NEUTRAL	The RSI value for PRPL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.01	NEGATIVE	The MACD value suggests PRPL has a negative trend.
Stochastics (14,3)	13.04	OVERSOLD	The low Stochastics value suggests PRPL may be oversold.
Average True Range in percent/ATR (20)	6.85	HIGH VOLATILITY	The high ATR as a percentage value for PRPL suggests high volalility.
Average Directional Index/ADX (14)	13.25	NEGATIVE	The low ADX value for PRPL suggests a weak or negative trend.