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Trine Acquisition Corp Cl A (TRNE) Stock Technical Analysis

NYSE:TRNE - New York Stock Exchange, Inc. -

24.77  +1.22 (+5.18%)

After market: 25.72 +0.95 (+3.84%)

Technical Rating and Analysis

10

Taking everything into account, TRNE scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TRNE is showing a nice and steady performance.

Both the short term and long term trends are positive. This is a very positive sign.
Looking at the yearly performance, TRNE did better than 96% of all other stocks.
A new 52 week high is currently being made by TRNE, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
In the last month TRNE has a been trading in the 10.24 - 25.42 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
TRNE has an average volume of 1738930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Weekly and Daily overview Charts
Trine Acquisition Corp Cl A / TRNE Weekly stock chart
Trine Acquisition Corp Cl A / TRNE Daily stock chart
Setup Rating and Analysis

2

Although TRNE has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

Support and Resistance Analysis

9.60

25.02

2 important support areas can be observed.

  • A support zone ranging from 9.90 to 10.24. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @9.70 from a horizontal line in the weekly time frame.

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.

IndicatorValueSignalComment
ChartMill Long Term Trend IndicatorUPPOSITIVEThe long term trend for TRNE is up.
ChartMill Short Term Trend IndicatorUPPOSITIVEThe short term trend for TRNE is up.
ChartMill Relative Strength96.14POSITIVETRNE has a high relative strength, it outperformed 96.14% off all stocks on the market.
Simple Moving Average/SMA (20)UPPOSITIVEThe current price of TRNE is above the rising SMA(20).
Simple Moving Average/SMA (50)UPPOSITIVEThe current price of TRNE is above the rising SMA(50).
Simple Moving Average/SMA (200)UPPOSITIVEThe current price of TRNE is above the rising SMA(200).
Relative Strength Index/RSI (14)96.91OVERBOUGHTThe high RSI value suggests TRNE may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)1.41POSITIVEThe MACD value suggests TRNE has a positive trend.
Stochastics (14,3)96.82OVERBOUGHTThe high Stochastics value suggests TRNE may be overbought.
Average True Range in percent/ATR (20)5.79HIGH VOLATILITYThe high ATR as a percentage value for TRNE suggests high volalility.
Chart- and CandleStick Pattern Analysis
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)
Trine Acquisition Corp Cl A / TRNE Daily stock chart

Trine Acquisition Corp Cl A

NYSE:TRNE (12/9/2020, 8:04:00 PM)

After market: 25.72 +0.95 (+3.84%)

24.77

+1.22 (+5.18%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg5.18%
1 Week85.4%
2 Weeks114.46%
1 Month137.72%
3 Month98.16%
6 Month147.08%
12 Month148.95%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.97
ATR(20)%5.79%
ATR Inc284.18%
Range Today4.06
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.14
Mansfield9.93
10 Day High25.42
10 Day Low11.26
20 Day High25.42
20 Day Low10.24
52 Week High25.42
52 Week Low9.4
CS1 End10.24
CR1 StartN/A
Volume & EV
DER(3)4.23%
DER(5)3.65%
Volume8.84M
Volume Incr392.19%
Vol(5)7.39M
Vol(50)1.74M