Taking everything into account, REEM scores 3 out of 10 in our technical rating. In the last year, REEM was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.
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
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.
2 important resistance areas can be observed.
- 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.
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. |
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 FAQ
What is the technical rating for REEM stock?
ChartMill assigns a technical rating of 3 / 10 to REEM.
Can you provide the trend direction for Oppenheimer Revenue Weighted ETF Trust ETF?
The current trend direction for Oppenheimer Revenue Weighted ETF Trust ETF (REEM) is Bearish.
What is the RSI signal for 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 are the support and resistance levels for Oppenheimer Revenue Weighted ETF Trust ETF (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.