TENON MEDICAL INC (TNON) Stock Technical Analysis
NASDAQ:TNON - Nasdaq - US88066N3035 - Common Stock - Currency: USD
Taking everything into account, TNON scores 2 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. TNON was also a bad performer in the overall market in the last year.
When comparing the yearly performance of all stocks, TNON is a bad performer in the overall market: 97% of all stocks are doing better.
TNON is one of the lesser performing stocks in the Health Care Equipment & Supplies industry. 82% of 187 stocks in the same industry do better.
TNON is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
In the last month TNON has a been trading in the 0.90 - 1.18 range, which is quite wide. It is currently trading near the high of this range.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
Although the technical rating is bad, TNON does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. 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
1.00
1.15
2 important support areas can be observed.
- A support zone ranging from 1.07 to 1.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.01 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @1.14 from a horizontal line 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 | DOWN | NEGATIVE | The long term trend for TNON is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TNON is up. |
| ChartMill Relative Strength | 3.5 | NEGATIVE | TNON has a low relative strength, it was outperformed by 96.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TNON is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of TNON is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of TNON is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.31 | NEUTRAL | The RSI value for TNON is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests TNON has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 75.66 | NEUTRAL | The Stochastics value for TNON is a neutral value. |
| Average True Range in percent/ATR (20) | 6.2 | HIGH VOLATILITY | The high ATR as a percentage value for TNON suggests high volalility. |
| Average Directional Index/ADX (14) | 26.23 | POSITIVE | The high ADX value value for TNON suggests a strong 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)
1.1
-0.01 (-0.9%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Equipment & Supplies
Performance
% Chg-0.9%
1 Week7.84%
2 Weeks-0.9%
1 Month22.47%
3 Month-5.98%
6 Month-37.5%
12 Month-78.44%
2 Year-95.48%
3 Year-99.35%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.07
ATR(20)%6.2%
ATR Inc2.45%
Range Today0.05
ADR(20)0.07
ADR(20)%6.19%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS3.5
Mansfield-5.66
10 Day High1.18
10 Day Low1
20 Day High1.18
20 Day Low0.9
52 Week High15.79
52 Week Low0.85
CS1 End1.09
CR1 Start1.14
Volume & EV
DER(3)-3.31%
DER(5)-9.25%
Volume181.10K
Volume Incr26.11%
Vol(5)213.02K
Vol(50)210.61K