iPath Series B Bloomberg Sugar Subindex TR ETN (SGG) Stock Technical Analysis
USA - NYSEARCA:SGG - US06746P4494 - ETF
Taking everything into account, SGG scores 9 out of 10 in our technical rating. 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.
Besides having an excellent technical rating, SGG 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. Another positive sign is the recent Pocket Pivot signal.
- 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.
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53.41
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.
When analyzing the resistance we notice one important 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. |
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%. | For a 0.51% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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%)
iPath Series B Bloomberg Sugar Subindex TR ETN / SGG FAQ
What is the technical rating for SGG stock?
ChartMill assigns a technical rating of 8 / 10 to SGG.
What is the trend direction for SGG stock?
The current trend direction for iPath Series B Bloomberg Sugar Subindex TR ETN (SGG) is Bullish.
What is the RSI signal for SGG stock?
iPath Series B Bloomberg Sugar Subindex TR ETN (SGG) has an RSI value of 48.2528. This indicates that the stock is currently neutral.
Can you provide the short term momentum for iPath Series B Bloomberg Sugar Subindex TR ETN?
The short term momentum for iPath Series B Bloomberg Sugar Subindex TR ETN (SGG) is neutral.
What is the support and resistance level for SGG stock?
iPath Series B Bloomberg Sugar Subindex TR ETN (SGG) has a support level at 87.65 and a resistance level at 93.61. Check the full technical report for our detailed analysis of SGG support and resistance levels.