Elkhorn Fundamental Commodity Strategy ETF (RCOM) Stock Technical Analysis
USA - NYSEARCA:RCOM -
Taking everything into account, RCOM scores 6 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, RCOM is only an average performer.
Although the technical rating is only medium, RCOM does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 28.32, a Stop Loss order could be placed below this zone.
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24.16
When analyzing the support we can see 3 important areas.
- A support zone ranging from 27.98 to 28.32. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @27.21 from a horizontal line in the daily time frame.
- Support @24.40 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @28.56 from a trend line in the daily time frame.
- A resistance zone ranging from 29.55 to 29.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for RCOM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for RCOM is up. |
| ChartMill Relative Strength | 60.55 | NEUTRAL | RCOM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RCOM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of RCOM is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RCOM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.19 | NEUTRAL | The RSI value for RCOM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests RCOM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 60.53 | NEUTRAL | The Stochastics value for RCOM is a neutral value. |
| Average True Range in percent/ATR (20) | 0.49 | LOW VOLATILITY | The low ATR as a percentage value for RCOM suggests low volalility. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 28.50 | 28.10 | 0.40 (1.40%) | 25.00% |
| An entry @28.50. This is a Buy Stop order right above the 10 day high. | An exit @28.10. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.40 points, which is 1.40%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.35%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
Elkhorn Fundamental Commodity Strategy ETF
NYSEARCA:RCOM (4/13/2018, 8:04:05 PM)
28.34
0 (0%)