iPath Series B Bloomberg Sugar Subindex TR ETN (SGG) Stock Technical Analysis
USA - NYSEARCA:SGG - US06746P4494 - ETF
87.97 USD
+1.12 (+1.28%)
Overall SGG gets a technical rating of 9 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
In the last month SGG has a been trading in the 86.26 - 93.75 range, which is quite wide. It is currently trading near the lows of this range.
Warning: SGG has an average volume of 4716 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
Looking at the yearly performance, SGG did better than 91% of all other stocks. We also observe that the gains produced by SGG over the past year are nicely spread over this period.
SGG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SGG is lagging the market slightly.
SGG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 87.65, 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
53.41
95.31
4 important support areas can be observed.
- A support zone ranging from 86.27 to 87.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @82.59 from a trend line in the daily time frame.
- Support @66.68 from a trend line in the weekly time frame.
- Support @53.95 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 93.61 to 94.37. 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 | UP | POSITIVE | The long term trend for SGG is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SGG is neutral. |
| ChartMill Relative Strength | 91.62 | POSITIVE | SGG has a high relative strength, it outperformed 91.62% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SGG is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SGG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SGG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.25 | NEUTRAL | The RSI value for SGG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.66 | NEGATIVE | The MACD value suggests SGG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 18.69 | OVERSOLD | The low Stochastics value suggests SGG may be oversold. |
| Average True Range in percent/ATR (20) | 1.49 | LOW VOLATILITY | The low ATR as a percentage value for SGG suggests low volalility. |
| Average Directional Index/ADX (14) | 24.38 | NEUTRAL | The ADX value for SGG suggests a possible start of a new 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 |
|---|---|---|---|
| 88.04 | 86.25 | 1.79 (2.03%) | 25.00% |
| An entry @88.04. This is a Buy Stop order right above the 10 day moving average. | An exit @86.25. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.79 points, which is 2.03%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.51%. |
- The distance between exit and entry is rather small compared to the average daily movement of SGG. Please evaluate whether better entry and exit points can be found.
- 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.
iPath Series B Bloomberg Sugar Subindex TR ETN
NYSEARCA:SGG (6/8/2023, 8:04:00 PM)
87.97
+1.12 (+1.28%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.28%
1 Week0.07%
2 Weeks-2.2%
1 Month-6.77%
3 Month22.07%
6 Month42.39%
12 Month49.43%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.32
ATR(20)%1.49%
ATR Inc10.67%
Range Today1.13
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
CRS91.62
Mansfield2.3
10 Day High90.15
10 Day Low86.26
20 Day High93.75
20 Day Low86.26
52 Week High94.48
52 Week Low52.79
CS1 End87.65
CR1 Start93.61
Volume & EV
DER(3)0.87%
DER(5)0.52%
Volume1.40K
Volume Incr18.38%
Vol(5)5.86K
Vol(50)4.72K