SOTK Technical Analysis - SONO-TEK CORP

Technical Rating and Analysis

We assign a technical rating of 8 out of 10 to SOTK. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, SOTK is only an average performer.

Warning: SOTK has an average volume of 18217 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

Both the short term and long term trends are positive. This is a very positive sign.

In the last month SOTK has a been trading in the 3.52 - 4.61 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, SOTK did better than 76% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

SOTK is an average performer in the Electronic Equipment, Instruments & Components industry, it outperforms 51% of 124 stocks in the same industry.

SOTK is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SOTK is lagging the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although SOTK has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

3.73

5.00

We found 2 important support areas.

A support zone ranging from 4.17 to 4.18. This zone is formed by a combination of multiple trend lines in the daily time frame.
Support @3.77 from a horizontal line in the daily time frame.

2 important resistance areas can be observed.

Resistance @4.66 from a trend line in the weekly time frame.
Resistance @4.95 from a horizontal line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

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 SOTK is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for SOTK is up.
ChartMill Relative Strength	76.35	POSITIVE	SOTK has a high relative strength, it outperformed 76.35% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of SOTK is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of SOTK is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of SOTK is above a declining SMA(200).
Relative Strength Index/RSI (14)	74.5	OVERBOUGHT	The high RSI value suggests SOTK may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests SOTK has a positive trend.
Stochastics (14,3)	89.3	OVERBOUGHT	The high Stochastics value suggests SOTK may be overbought.
Average True Range in percent/ATR (20)	4.36	MEDIUM VOLATILITY	The ATR as a percentage value for SOTK suggests some volalility.
Average Directional Index/ADX (14)	38.37	POSITIVE	The high ADX value value for SOTK suggests a strong trend.