Turquoise Hill Resources Ltd (TRQ.CA) Stock Technical Analysis
TSX:TRQ • CA9004352071
We assign a technical rating of 10 out of 10 to TRQ. Both in the recent history as in the last year, TRQ has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, TRQ did better than 96% of all other stocks.
- TRQ is one of the better performing stocks in the Metals & Mining industry, it outperforms 90% of 807 stocks in the same industry.
- TRQ is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month TRQ has a been trading in a tight range between 41.81 and 43.01.
- Volume is considerably higher in the last couple of days.
Besides having an excellent technical rating, TRQ also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 43.02. Right above this resistance zone may be a good entry point. 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
36.79
When analyzing the support we can see 3 important areas.
- Support @39.14 from a trend line in the weekly time frame.
- Support @38.27 from a horizontal line in the weekly time frame.
- Support @37.16 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 43.02 to 43.02. 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 TRQ.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TRQ.CA is up. |
| ChartMill Relative Strength | 96.16 | POSITIVE | TRQ.CA has a high relative strength, it outperformed 96.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TRQ.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TRQ.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TRQ.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.18 | NEUTRAL | The RSI value for TRQ.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests TRQ.CA has a negative trend. |
| Stochastics (14,3) | 98.48 | OVERBOUGHT | The high Stochastics value suggests TRQ.CA may be overbought. |
| Average True Range in percent/ATR (20) | 0.53 | LOW VOLATILITY | The low ATR as a percentage value for TRQ.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 18.41 | NEGATIVE | The low ADX value for TRQ.CA 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 |
|---|---|---|---|
| 43.03 | 42.34 | 0.69 (1.60%) | 25.00% |
| An entry @43.03. This is a Buy Stop order right above the resistance zone. | An exit @42.34. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.69 points, which is 1.60%. | For a 0.40% 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.
TSX:TRQ (12/19/2022, 7:00:00 PM)
42.99
-0.02 (-0.05%)
Turquoise Hill Resources Ltd / TRQ.CA FAQ
What is the technical rating for TRQ stock?
ChartMill assigns a technical rating of 9 / 10 to TRQ.CA.
Can you provide the trend direction for Turquoise Hill Resources Ltd?
The current trend direction for Turquoise Hill Resources Ltd (TRQ.CA) is Bullish.
Can you provide the RSI signal for Turquoise Hill Resources Ltd?
Turquoise Hill Resources Ltd (TRQ.CA) has an RSI value of 66.1811. This indicates that the stock is currently neutral.
What is the MACD signal for Turquoise Hill Resources Ltd (TRQ.CA) stock?
The MACD indicator for Turquoise Hill Resources Ltd (TRQ.CA) has a value of -0.0264078, indicating a bearish trend.
What is the short term momentum for Turquoise Hill Resources Ltd (TRQ.CA) stock?
The short term momentum for Turquoise Hill Resources Ltd (TRQ.CA) is positive.