TENON MEDICAL INC (TNON) Stock Technical Analysis
USA - NASDAQ:TNON - US88066N3035 - Common Stock
Overall TNON gets a technical rating of 3 out of 10. 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.
Although the technical rating is bad, TNON does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 1.26. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.14, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TNON in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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1.11
When analyzing the support we notice one important area.
- A support zone ranging from 1.12 to 1.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 1.26 to 1.26. This zone is formed by a combination of multiple trend lines and important moving averages 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 | 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 | 9.37 | NEGATIVE | TNON has a low relative strength, it was outperformed by 90.63% 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 | NEGATIVE | The current price of TNON is below 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) | 55.28 | 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. |
| Stochastics (14,3) | 86.51 | OVERBOUGHT | The high Stochastics value suggests TNON may be overbought. |
| Average True Range in percent/ATR (20) | 4.59 | MEDIUM VOLATILITY | The ATR as a percentage value for TNON suggests some volalility. |
| Average Directional Index/ADX (14) | 23.51 | NEUTRAL | The ADX value for TNON suggests a possible start of a new trend. |
1.24
-0.01 (-0.8%)