PURPLE INNOVATION INC (PRPL) Technical Analysis
NASDAQ:PRPL • US74640Y1064
Current stock price
PRPL Technical Rating and Analysis
We assign a technical rating of 1 out of 10 to PRPL. PRPL'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 long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- When comparing the yearly performance of all stocks, PRPL is a bad performer in the overall market: 76% of all stocks are doing better.
- PRPL is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month PRPL has a been trading in the 0.60 - 0.72 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been consolidating recently, but much resistance may still be present above.
- PRPL is part of the Household Durables industry. There are 60 other stocks in this industry, PRPL did better than 44% of them.
PRPL Weekly and Daily overview Charts
PRPL Setup Rating and Analysis
PRPL has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. We notice that large players showed an interest for PRPL in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
PRPL Support and Resistance Analysis
0.59
We found 2 important support areas.
- Support @0.61 from a trend line in the daily time frame.
- Support @0.60 from a horizontal line in the weekly time frame.
4 important resistance areas can be observed.
- Resistance @0.65 from a trend line in the daily time frame.
- A resistance zone ranging from 0.71 to 0.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.00 from a trend line in the weekly time frame.
- Resistance @1.06 from a trend line in the weekly time frame.
PRPL 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 PRPL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for PRPL is neutral. |
| ChartMill Relative Strength | 24.42 | NEGATIVE | PRPL has a low relative strength, it was outperformed by 75.58% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PRPL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of PRPL is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PRPL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 48.33 | NEUTRAL | The RSI value for PRPL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests PRPL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 54.01 | NEUTRAL | The Stochastics value for PRPL is a neutral value. |
| Average True Range in percent/ATR (20) | 6.16 | HIGH VOLATILITY | The high ATR as a percentage value for PRPL suggests high volalility. |
| Average Directional Index/ADX (14) | 23.91 | NEUTRAL | The ADX value for PRPL suggests a possible start of a new trend. |
PRPL Chart- and CandleStick Pattern Analysis
PRPL Technicals: Chart, Performance Metrics, Trend & Indicators
0.641
+0 (+0.16%)
PURPLE INNOVATION INC / PRPL TA FAQ
What is the ChartMill technical rating of PURPLE INNOVATION INC (PRPL) stock?
ChartMill assigns a technical rating of 1 / 10 to PRPL.
Can you provide the trend direction for PURPLE INNOVATION INC?
The current trend direction for PURPLE INNOVATION INC (PRPL) is Bearish.
What is the RSI signal for PURPLE INNOVATION INC (PRPL) stock?
PURPLE INNOVATION INC (PRPL) has an RSI value of 48.3322. This indicates that the stock is currently neutral.
What is the MACD signal for PRPL stock?
The MACD indicator for PURPLE INNOVATION INC (PRPL) has a value of 0.00471304, indicating a bearish trend.