Oppenheimer Revenue Weighted ETF Trust ETF (REEM) Technical Analysis
NYSEARCA:REEM
Current stock price
REEM Technical Rating and Analysis
Overall REEM gets a technical rating of 3 out of 10. REEM performed below average in the overall market. Although the medium term picture in unclear, the short term picture is clearly negative.
- 67% of all other stocks performed better in the past year than REEM.
- Warning: REEM has an average volume of 1085 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- In the last month REEM has a been trading in the 23.41 - 25.94 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- REEM is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so REEM is lagging the market slightly.
- Volume is considerably higher in the last couple of days.
REEM Weekly and Daily overview Charts
REEM Setup Rating and Analysis
The technical rating of REEM is bad and it also does not present a 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.
More info and screens
REEM Support and Resistance Analysis
23.26
We found 1 important support area.
- A support zone ranging from 23.49 to 23.50. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 2 important resistance areas.
- Resistance @25.88 from a trend line in the weekly time frame.
- A resistance zone ranging from 26.53 to 26.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
REEM 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 | NEUTRAL | NEUTRAL | The long term trend for REEM is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for REEM is neutral. |
| ChartMill Relative Strength | 33.74 | NEUTRAL | REEM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of REEM is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of REEM is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of REEM is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 50 | NEUTRAL | The RSI value for REEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests REEM has a positive trend. |
| Stochastics (14,3) | 87.79 | OVERBOUGHT | The high Stochastics value suggests REEM may be overbought. |
| Average True Range in percent/ATR (20) | 1.26 | LOW VOLATILITY | The low ATR as a percentage value for REEM suggests low volalility. |
REEM Chart- and CandleStick Pattern Analysis
REEM Technicals: Chart, Performance Metrics, Trend & Indicators
Oppenheimer Revenue Weighted ETF Trust ETF
NYSEARCA:REEM (2/14/2020, 8:04:06 PM)
24.58
-0.08 (-0.3%)
Oppenheimer Revenue Weighted ETF Trust ETF / REEM TA FAQ
What is the technical rating for REEM stock?
ChartMill assigns a technical rating of 3 / 10 to REEM.
What is the trend direction for REEM stock?
The current trend direction for Oppenheimer Revenue Weighted ETF Trust ETF (REEM) is Bearish.
What is the RSI signal for Oppenheimer Revenue Weighted ETF Trust ETF (REEM) stock?
Oppenheimer Revenue Weighted ETF Trust ETF (REEM) has an RSI value of 49.9992. This indicates that the stock is currently neutral.
What is the short term momentum for Oppenheimer Revenue Weighted ETF Trust ETF (REEM) stock?
The short term momentum for Oppenheimer Revenue Weighted ETF Trust ETF (REEM) is neutral.
What is the support and resistance level for REEM stock?
Oppenheimer Revenue Weighted ETF Trust ETF (REEM) has a support level at 23.5 and a resistance level at 25.88. Check the full technical report for our detailed analysis of REEM support and resistance levels.