SOLENO THERAPEUTICS INC (SLNO) Stock Technical Analysis
NASDAQ:SLNO - Nasdaq - US8342033094 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to SLNO. In the last year, SLNO was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month SLNO has a been trading in the 71.19 - 80.99 range, which is quite wide. It is currently trading near the lows of this range.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
Looking at the yearly performance, SLNO did better than 96% of all other stocks.
SLNO is part of the Biotechnology industry. There are 560 other stocks in this industry. SLNO outperforms 95% of them.
SLNO is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so SLNO is performing more or less in line with the market.
SLNO has an average volume of 1508840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Considerably lower volume is observed in the last couple of days.
Besides having an excellent technical rating, SLNO also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 73.34, a Stop Loss order could be placed below this zone.
More info and screens
42.11
77.66
We found 5 important support areas.
- A support zone ranging from 73.30 to 73.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @51.07 from a trend line in the weekly time frame.
- Support @48.74 from a trend line in the weekly time frame.
- Support @45.44 from a trend line in the daily time frame.
- Support @42.54 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- Resistance @73.71 from a horizontal line in the daily time frame.
- A resistance zone ranging from 76.78 to 76.89. 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 SLNO is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SLNO is neutral. |
| ChartMill Relative Strength | 96.52 | POSITIVE | SLNO has a high relative strength, it outperformed 96.52% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SLNO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SLNO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SLNO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.78 | NEUTRAL | The RSI value for SLNO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.57 | NEGATIVE | The MACD value suggests SLNO has a negative trend. |
| Stochastics (14,3) | 43.14 | NEUTRAL | The Stochastics value for SLNO is a neutral value. |
| Average True Range in percent/ATR (20) | 4.02 | MEDIUM VOLATILITY | The ATR as a percentage value for SLNO suggests some volalility. |
| Average Directional Index/ADX (14) | 14.87 | NEGATIVE | The low ADX value for SLNO 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 |
|---|---|---|---|
| 73.72 | 73.29 | 0.43 (0.58%) | 25.00% |
| An entry @73.72. This is a Buy Stop order right above the resistance zone. | An exit @73.29. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.43 points, which is 0.58%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.15%. |
- The distance between exit and entry is rather small compared to the average daily movement of SLNO. 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.
73.35
-2.27 (-3%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-3%
1 Week-0.73%
2 Weeks-2.29%
1 Month-2.23%
3 Month50.25%
6 Month39.16%
12 Month74.31%
2 Year1291.84%
3 Year2931.62%
5 Year45.54%
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.77
ATR(20)%4.02%
ATR Inc-28.67%
Range Today2.69
ADR(20)2.91
ADR(20)%3.97%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.52
Mansfield3.31
10 Day High78.32
10 Day Low72.06
20 Day High80.99
20 Day Low71.19
52 Week High80.99
52 Week Low36.93
CS1 End73.34
CR1 Start73.71
Volume & EV
DER(3)0.6%
DER(5)-0.5%
Volume1.22M
Volume Incr-9.87%
Vol(5)697.96K
Vol(50)1.51M