Resolute Forest Products Inc (RFP.CA) Stock Technical Analysis
Canada - Toronto Stock Exchange - TSX:RFP - US76117W1099 - Common Stock
We assign a technical rating of 10 out of 10 to RFP. Both in the recent history as in the last year, RFP has proven to be a steady performer, scoring decent points in every aspect analyzed.
Although RFP has an excellent technical rating, the quality of the presented setup is not ideal 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
17.72
3 important support areas can be observed.
- A support zone ranging from 28.46 to 29.41. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Strong support @27.83 from a horizontal line in the daily time frame.
- Support @17.90 from a trend line in the weekly 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 | UP | POSITIVE | The long term trend for RFP.CA is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RFP.CA is neutral. |
| ChartMill Relative Strength | 95.15 | POSITIVE | RFP.CA has a high relative strength, it outperformed 95.15% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RFP.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RFP.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RFP.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.46 | NEUTRAL | The RSI value for RFP.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests RFP.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 63.82 | NEUTRAL | The Stochastics value for RFP.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.8 | LOW VOLATILITY | The low ATR as a percentage value for RFP.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 25.42 | POSITIVE | The high ADX value value for RFP.CA suggests a strong trend. |
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 |
|---|---|---|---|
| 29.75 | 28.45 | 1.30 (4.36%) | 22.95% |
| An entry @29.75. This is a Buy Stop order right above the 10 day moving average. | An exit @28.45. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.30 points, which is 4.36%. | For a 1.00% total portfolio risk, you can invest 22.95% of your capital in this trade. |
- 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.
TSX:RFP (3/2/2023, 7:00:00 PM)
29.43
-1.8 (-5.76%)
Resolute Forest Products Inc / RFP.CA FAQ
What is the technical rating for RFP stock?
ChartMill assigns a technical rating of 9 / 10 to RFP.CA.
What is the trend direction for RFP stock?
The current trend direction for Resolute Forest Products Inc (RFP.CA) is Bullish.
What is the RSI signal for Resolute Forest Products Inc (RFP.CA) stock?
Resolute Forest Products Inc (RFP.CA) has an RSI value of 50.4636. This indicates that the stock is currently neutral.
What is the short term momentum for RFP stock?
The short term momentum for Resolute Forest Products Inc (RFP.CA) is neutral.