We assign a technical rating of 8 out of 10 to SUMO. Both in the recent history as in the last year, SUMO has proven to be a steady performer, scoring decent points in every aspect analyzed.
SUMO has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 12.03, a Stop Loss order could be placed below this zone.
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8.48
We found 4 important support areas.
- A support zone ranging from 11.86 to 12.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 11.50 to 11.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @8.77 from a trend line in the daily time frame.
- Support @8.57 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 12.09 to 12.19. 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 SUMO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SUMO is up. |
| ChartMill Relative Strength | 93.26 | POSITIVE | SUMO has a high relative strength, it outperformed 93.26% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SUMO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SUMO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SUMO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.74 | NEUTRAL | The RSI value for SUMO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests SUMO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 73.58 | NEUTRAL | The Stochastics value for SUMO is a neutral value. |
| Average True Range in percent/ATR (20) | 0.2 | LOW VOLATILITY | The low ATR as a percentage value for SUMO suggests low volalility. |
| Average Directional Index/ADX (14) | 11.19 | NEGATIVE | The low ADX value for SUMO suggests a weak or negative 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 |
|---|---|---|---|
| 12.08 | 11.99 | 0.08 (0.70%) | 25.00% |
| An entry @12.07. This is a Buy Stop order right above the 10 day high. | An exit @11.99. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.08 points, which is 0.70%. | For a 0.18% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
12.04
-0.01 (-0.08%)
SUMO LOGIC INC / SUMO FAQ
What is the ChartMill technical rating of SUMO LOGIC INC (SUMO) stock?
ChartMill assigns a technical rating of 7 / 10 to SUMO.
What is the trend direction for SUMO stock?
The current trend direction for SUMO LOGIC INC (SUMO) is Bullish.
What is the RSI signal for SUMO stock?
SUMO LOGIC INC (SUMO) has an RSI value of 60.7403. This indicates that the stock is currently neutral.
Can you provide the short term momentum for SUMO LOGIC INC?
The short term momentum for SUMO LOGIC INC (SUMO) is positive.
What is the support and resistance level for SUMO stock?
SUMO LOGIC INC (SUMO) has a support level at 12.03 and a resistance level at 12.09. Check the full technical report for our detailed analysis of SUMO support and resistance levels.