TNON Technical Analysis - TENON MEDICAL INC

Technical Rating and Analysis

Overall TNON gets a technical rating of 1 out of 10. TNON scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

When comparing the yearly performance of all stocks, TNON is a bad performer in the overall market: 92% of all stocks are doing better.

TNON is part of the Health Care Equipment & Supplies industry. There are 190 other stocks in this industry, of which 64% are performing better than TNON.

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.

TNON has an average volume of 5626990 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month TNON has a been trading in the 1.11 - 1.34 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

TENON MEDICAL INC / TNON Weekly stock chart

TENON MEDICAL INC / TNON Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, TNON does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.12

1.28

2 important support areas can be observed.

Support @1.18 from a trend line in the daily time frame.
Support @1.13 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 1.26 to 1.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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What is Support and Resistance

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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	DOWN	NEGATIVE	The long term trend for TNON is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for TNON is down.
ChartMill Relative Strength	8.28	NEGATIVE	TNON has a low relative strength, it was outperformed by 91.72% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of TNON is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of TNON is below the rising 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)	43.62	NEUTRAL	The RSI value for TNON is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	NEGATIVE	The MACD value suggests TNON has a negative trend.
Stochastics (14,3)	47.5	NEUTRAL	The Stochastics value for TNON is a neutral value.
Average True Range in percent/ATR (20)	6.09	HIGH VOLATILITY	The high ATR as a percentage value for TNON suggests high volalility.
Average Directional Index/ADX (14)	34.3	POSITIVE	The high ADX value value for TNON suggests a strong trend.