INVESCO S&P 500 EQUAL WEIGHT (RYE) Technical Analysis
NYSEARCA:RYE • US46137V3657
Current stock price
RYE Technical Rating and Analysis
Taking everything into account, RYE scores 2 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. RYE was also a bad performer in the overall market in the last year.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- 76% of all other stocks performed better in the past year than RYE.
- RYE is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so RYE is lagging the market.
- In the last month RYE has a been trading in the 63.19 - 67.34 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
RYE Weekly and Daily overview Charts
RYE Setup Rating and Analysis
Although the technical rating is bad, RYE does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 66.14, a Stop Loss order could be placed below this zone.
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RYE Support and Resistance Analysis
62.72
When analyzing the support we can see 2 important areas.
- A support zone ranging from 65.40 to 66.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 63.35 to 64.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 6 important areas.
- Resistance @68.91 from a trend line in the daily time frame.
- Resistance @70.98 from a trend line in the weekly time frame.
- Resistance @72.15 from a horizontal line in the daily time frame.
- Resistance @73.35 from a horizontal line in the daily time frame.
- Resistance @76.06 from a horizontal line in the weekly time frame.
- Resistance @78.93 from a horizontal line in the weekly time frame.
RYE 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 RYE is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RYE is neutral. |
| ChartMill Relative Strength | 24.67 | NEGATIVE | RYE has a low relative strength, it was outperformed by 75.33% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RYE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of RYE is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of RYE is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.23 | NEUTRAL | The RSI value for RYE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.24 | POSITIVE | The MACD value suggests RYE has a positive trend. |
| Stochastics (14,3) | 75.9 | NEUTRAL | The Stochastics value for RYE is a neutral value. |
| Average True Range in percent/ATR (20) | 2.14 | MEDIUM VOLATILITY | The ATR as a percentage value for RYE suggests some volalility. |
| Average Directional Index/ADX (14) | 15.5 | NEGATIVE | The low ADX value for RYE suggests a weak or negative trend. |
RYE Chart- and CandleStick Pattern Analysis
RYE Technicals: Chart, Performance Metrics, Trend & Indicators
NYSEARCA:RYE (6/6/2023, 8:04:00 PM)
66.61
+0.7 (+1.06%)
INVESCO S&P 500 EQUAL WEIGHT / RYE TA FAQ
Can you provide the ChartMill technical rating for INVESCO S&P 500 EQUAL WEIGHT?
ChartMill assigns a technical rating of 2 / 10 to RYE.
Can you provide the trend direction for INVESCO S&P 500 EQUAL WEIGHT?
The current trend direction for INVESCO S&P 500 EQUAL WEIGHT (RYE) is Bearish.
What is the RSI signal for INVESCO S&P 500 EQUAL WEIGHT (RYE) stock?
INVESCO S&P 500 EQUAL WEIGHT (RYE) has an RSI value of 52.2333. This indicates that the stock is currently neutral.
What are the support and resistance levels for INVESCO S&P 500 EQUAL WEIGHT (RYE) stock?
INVESCO S&P 500 EQUAL WEIGHT (RYE) has a support level at 66.14 and a resistance level at 68.91. Check the full technical report for our detailed analysis of RYE support and resistance levels.