RED VIOLET INC (RDVT) Stock Technical Analysis
NASDAQ:RDVT - Nasdaq - US75704L1044 - Common Stock - Currency: USD
Taking everything into account, RDVT scores 4 out of 10 in our technical rating. Although RDVT 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.
Although the technical rating is only medium, RDVT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 44.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 42.40, a Stop Loss order could be placed below this zone.
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4 important support areas can be observed.
- A support zone ranging from 42.24 to 42.40. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A support zone ranging from 41.13 to 41.43. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 36.72 to 37.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @35.02 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 44.62 to 45.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @50.11 from a horizontal 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 | NEUTRAL | NEUTRAL | The long term trend for RDVT is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for RDVT is down. |
| ChartMill Relative Strength | 82.63 | POSITIVE | RDVT has a high relative strength, it outperformed 82.63% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of RDVT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of RDVT is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RDVT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 45.98 | NEUTRAL | The RSI value for RDVT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.11 | POSITIVE | The MACD value suggests RDVT has a positive trend. |
| Stochastics (14,3) | 68.3 | NEUTRAL | The Stochastics value for RDVT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.78 | MEDIUM VOLATILITY | The ATR as a percentage value for RDVT suggests some volalility. |
| Average Directional Index/ADX (14) | 25.28 | POSITIVE | The high ADX value value for RDVT suggests a strong trend. |
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-0.12 (-0.27%)