SHOALS TECHNOLOGIES GROUP -A (SHLS) Stock Technical Analysis
NASDAQ:SHLS - Nasdaq - US82489W1071 - Common Stock - Currency: USD
Overall SHLS gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SHLS is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
SHLS is part of the Electrical Equipment industry. There are 94 other stocks in this industry. SHLS outperforms 76% of them.
In the last month SHLS has a been trading in the 3.81 - 5.34 range, which is quite wide. It is currently trading near the high of this range.
SHLS has an average volume of 6981760 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, SHLS did better than 84% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
SHLS is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so SHLS is lagging the market slightly.
SHLS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 5.17. Right above this resistance zone may be a good entry point. 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
3.81
6.20
When analyzing the support we can see 3 important areas.
- A support zone ranging from 4.94 to 4.99. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @4.74 from a trend line in the daily time frame.
- Support @3.85 from a trend line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 5.17 to 5.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @5.33 from a trend line in the weekly time frame.
- A resistance zone ranging from 6.06 to 6.14. This zone is formed by a combination of multiple trend lines in the daily 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 SHLS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SHLS is up. |
| ChartMill Relative Strength | 84.17 | POSITIVE | SHLS has a high relative strength, it outperformed 84.17% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SHLS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SHLS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of SHLS is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.76 | NEUTRAL | The RSI value for SHLS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests SHLS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 75.06 | NEUTRAL | The Stochastics value for SHLS is a neutral value. |
| Average True Range in percent/ATR (20) | 6.65 | HIGH VOLATILITY | The high ATR as a percentage value for SHLS suggests high volalility. |
| Average Directional Index/ADX (14) | 12.84 | NEGATIVE | The low ADX value for SHLS suggests a weak or negative 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 |
|---|---|---|---|
| 5.22 | 4.93 | 0.29 (5.56%) | 18.00% |
| An entry @5.22. This is a Buy Stop order right above the resistance zone. | An exit @4.93. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.29 points, which is 5.56%. | For a 1.00% total portfolio risk, you can invest 18.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SHLS. 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.
5.11
+0.16 (+3.23%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryElectrical Equipment
Performance
% Chg3.23%
1 Week-0.97%
2 Weeks8.26%
1 Month11.57%
3 Month56.75%
6 Month15.87%
12 Month-21.14%
2 Year-80.01%
3 Year-68.99%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.32
ATR(20)%6.65%
ATR Inc-21.99%
Range Today0.35
ADR(20)0.33
ADR(20)%6.41%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.17
Mansfield-0.12
10 Day High5.34
10 Day Low4.48
20 Day High5.34
20 Day Low3.81
52 Week High7.08
52 Week Low2.71
CS1 End4.99
CR1 Start5.17
Volume & EV
DER(3)1.4%
DER(5)1.55%
Volume6.29M
Volume Incr-43.26%
Vol(5)4.63M
Vol(50)6.98M