Resolute Forest Products Inc (RFP.CA) Stock Technical Analysis
TSX:RFP - Toronto Stock Exchange - US76117W1099 - Common Stock - Currency: CAD
Overall RFP gets a technical rating of 10 out of 10. 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.
In the last month RFP has a been trading in the 28.41 - 31.24 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
Looking at the yearly performance, RFP did better than 95% of all other stocks. On top of that, RFP also shows a nice and consistent pattern of rising prices.
RFP is part of the Paper & Forest Products industry. There are 12 other stocks in this industry. RFP outperforms 90% of them.
RFP is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so RFP is leading the market.
Volume is considerably higher in the last couple of days.
RFP has an excellent technical rating, but the quality of the setup is only medium 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
29.72
We found 3 important support areas.
- 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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryPaper & Forest Products
Performance
% Chg-5.76%
1 Week0%
2 Weeks0.31%
1 Month1.27%
3 Month3.63%
6 Month10.81%
12 Month82.91%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.6
ATR(20)%1.8%
ATR Inc481.69%
Range Today2.7
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS95.15
Mansfield1.99
10 Day High31.24
10 Day Low28.41
20 Day High31.24
20 Day Low28.41
52 Week High31.24
52 Week Low14.54
CS1 End29.41
CR1 StartN/A
Volume & EV
DER(3)4.4%
DER(5)-1.15%
Volume356.51K
Volume Incr780.75%
Vol(5)131.16K
Vol(50)30.81K