SOLARCITY CORP (SCTY) Stock Technical Analysis
NASDAQ:SCTY - Nasdaq - US83416T1007
We assign a technical rating of 2 out of 10 to SCTY. In the past year, SCTY was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is bad, SCTY does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 20.42. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.14, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
18.36
When analyzing the support we can see 3 important areas.
- A support zone ranging from 19.91 to 20.14. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @19.05 from a trend line in the daily time frame.
- A support zone ranging from 18.55 to 18.68. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 20.42 to 20.85. This zone is formed by a combination of multiple trend lines and important moving averages 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 | DOWN | NEGATIVE | The long term trend for SCTY is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SCTY is neutral. |
| ChartMill Relative Strength | 12.59 | NEGATIVE | SCTY has a low relative strength, it was outperformed by 87.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SCTY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SCTY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SCTY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.74 | NEUTRAL | The RSI value for SCTY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests SCTY has a positive trend. |
| Stochastics (14,3) | 65.93 | NEUTRAL | The Stochastics value for SCTY is a neutral value. |
| Average True Range in percent/ATR (20) | 4.87 | MEDIUM VOLATILITY | The ATR as a percentage value for SCTY suggests some volalility. |
20.34
-0.06 (-0.29%)