REE Technical Analysis - REE AUTOMOTIVE LTD - CLASS A

Technical Rating and Analysis

Overall REE gets a technical rating of 4 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. REE was also a bad performer in the overall market in the last year.

93% of all other stocks performed better in the past year than REE.

REE is one of the lesser performing stocks in the Automobile Components industry. 93% of 81 stocks in the same industry do better.

REE 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 REE has a been trading in the 0.64 - 0.93 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

REE AUTOMOTIVE LTD - CLASS A / REE Weekly stock chart

REE AUTOMOTIVE LTD - CLASS A / REE Daily stock chart

Setup Rating and Analysis

REE has an average technical rating and it also does not offer a high quality setup 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

0.62

0.93

When analyzing the support we can see 3 important areas.

Support @0.68 from a trend line in the daily time frame.
Support @0.66 from a horizontal line in the daily time frame.
Support @0.63 from a horizontal line in the daily time frame.

We found 1 important resistance area.

Resistance @0.92 from a horizontal line in the daily time frame.

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What is Support and Resistance

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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	DOWN	NEGATIVE	The long term trend for REE is down.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for REE is up.
ChartMill Relative Strength	7.87	NEGATIVE	REE has a low relative strength, it was outperformed by 92.13% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of REE is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of REE is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of REE is below a declining SMA(200).
Relative Strength Index/RSI (14)	67.54	NEUTRAL	The RSI value for REE is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests REE has a positive trend.
Stochastics (14,3)	83.82	OVERBOUGHT	The high Stochastics value suggests REE may be overbought.
Average True Range in percent/ATR (20)	5.93	HIGH VOLATILITY	The high ATR as a percentage value for REE suggests high volalility.
Average Directional Index/ADX (14)	23.68	NEUTRAL	The ADX value for REE suggests a possible start of a new trend.