RAYTECH HOLDING LTD (RAY) Technical Analysis
NASDAQ:RAY • VGG7385S1193
Taking everything into account, RAY scores 4 out of 10 in our technical rating. Although RAY is scoring some points because its good overall performance in the market in the past year, 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.
- RAY 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 RAY has a been trading in the 3.80 - 4.85 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- RAY is part of the Distributors industry. There are 23 other stocks in this industry. RAY outperforms 90% of them.
- When comparing the yearly performance of all stocks, we notice that RAY is one of the better performing stocks in the market, outperforming 86% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
- Considerably lower volume is observed in the last couple of days.
RAY has an average technical rating and also the quality of the setup is only medium 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.
More info and screens
3.94
When analyzing the support we notice one important area.
- A support zone ranging from 3.98 to 3.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- Resistance @4.59 from a trend line in the daily 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 RAY is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RAY is neutral. |
| ChartMill Relative Strength | 86.56 | POSITIVE | RAY has a high relative strength, it outperformed 86.56% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of RAY is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RAY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of RAY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 46.08 | NEUTRAL | The RSI value for RAY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests RAY has a negative trend. |
| Stochastics (14,3) | 42.01 | NEUTRAL | The Stochastics value for RAY is a neutral value. |
| Average True Range in percent/ATR (20) | 7.64 | HIGH VOLATILITY | The high ATR as a percentage value for RAY suggests high volalility. |
| Average Directional Index/ADX (14) | 20.93 | NEUTRAL | The ADX value for RAY suggests a possible start of a new trend. |
RAY Technicals: Chart, Performance Metrics, Trend & Indicators
3.99
-0.4 (-9.11%)
RAYTECH HOLDING LTD / RAY FAQ
Can you provide the ChartMill technical rating for RAYTECH HOLDING LTD?
ChartMill assigns a technical rating of 4 / 10 to RAY.
Can you provide the trend direction for RAYTECH HOLDING LTD?
The current trend direction for RAYTECH HOLDING LTD (RAY) is Bearish.
Can you provide the RSI signal for RAYTECH HOLDING LTD?
RAYTECH HOLDING LTD (RAY) has an RSI value of 46.0785. This indicates that the stock is currently neutral.
What is the short term momentum for RAY stock?
The short term momentum for RAYTECH HOLDING LTD (RAY) is neutral.