STEEL CONNECT INC (STCN) Technical Analysis
NASDAQ:STCN • US8580982051
Current stock price
STCN Technical Rating and Analysis
We assign a technical rating of 8 out of 10 to STCN. Both in the recent history as in the last year, STCN has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- STCN is part of the IT Services industry. There are 88 other stocks in this industry. STCN outperforms 88% of them.
- STCN 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 STCN is lagging the market slightly.
- STCN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- When comparing the yearly performance of all stocks, we notice that STCN is one of the better performing stocks in the market, outperforming 85% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
STCN Weekly and Daily overview Charts
STCN Setup Rating and Analysis
Besides having an excellent technical rating, STCN also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 12.34. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 12.17, 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.
More info and screens
STCN Support and Resistance Analysis
9.56
2 important support areas can be observed.
- A support zone ranging from 12.17 to 12.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 9.66 to 9.68. This zone is formed by a combination of multiple trend lines in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 12.34 to 12.58. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 12.89 to 12.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
STCN 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 STCN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for STCN is up. |
| ChartMill Relative Strength | 85.09 | POSITIVE | STCN has a high relative strength, it outperformed 85.09% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of STCN is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of STCN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of STCN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.44 | NEUTRAL | The RSI value for STCN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests STCN has a negative trend. |
| Stochastics (14,3) | 68.21 | NEUTRAL | The Stochastics value for STCN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.56 | MEDIUM VOLATILITY | The ATR as a percentage value for STCN suggests some volalility. |
| Average Directional Index/ADX (14) | 26.08 | POSITIVE | The high ADX value value for STCN suggests a strong trend. |
STCN Chart- and CandleStick Pattern Analysis
STCN Example Setup
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 |
|---|---|---|---|
| 12.59 | 12.16 | 0.43 (3.42%) | 25.00% |
| An entry @12.59. This is a Buy Stop order right above the resistance zone. | An exit @12.16. 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 3.42%. | For a 0.85% 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 STCN. 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.
STCN Technicals: Chart, Performance Metrics, Trend & Indicators
12.18
-0.29 (-2.33%)
STEEL CONNECT INC / STCN TA FAQ
What is the ChartMill technical rating of STEEL CONNECT INC (STCN) stock?
ChartMill assigns a technical rating of 8 / 10 to STCN.
What is the current trend direction of STEEL CONNECT INC (STCN) stock?
The current trend direction for STEEL CONNECT INC (STCN) is Bullish.
Can you provide the RSI signal for STEEL CONNECT INC?
STEEL CONNECT INC (STCN) has an RSI value of 55.4421. This indicates that the stock is currently neutral.
Can you provide the short term momentum for STEEL CONNECT INC?
The short term momentum for STEEL CONNECT INC (STCN) is positive.
What are the support and resistance levels for STEEL CONNECT INC (STCN) stock?
STEEL CONNECT INC (STCN) has a support level at 12.17 and a resistance level at 12.34. Check the full technical report for our detailed analysis of STCN support and resistance levels.