UMC Technical Analysis - UNITED MICROELECTRON-SP ADR

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to UMC. UMC's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.

89% of all other stocks performed better in the past year than UMC.

UMC is one of the lesser performing stocks in the Semiconductors & Semiconductor Equipment industry. 90% of 112 stocks in the same industry do better.

In the last month UMC has a been trading in the 6.56 - 7.00 range, which is quite wide. It is currently trading near the high of this range.

UMC has an average volume of 6291620 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

UMC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so UMC is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

UNITED MICROELECTRON-SP ADR / UMC Weekly stock chart

UNITED MICROELECTRON-SP ADR / UMC Daily stock chart

Setup Rating and Analysis

The technical rating of UMC is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

6.50

8.09

When analyzing the support we notice one important area.

A support zone ranging from 6.57 to 6.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

We can see 2 important resistance areas.

A resistance zone ranging from 7.00 to 7.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @8.01 from a trend line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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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 UMC is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for UMC is neutral.
ChartMill Relative Strength	11.62	NEGATIVE	UMC has a low relative strength, it was outperformed by 88.38% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of UMC is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of UMC is above a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of UMC is above the rising SMA(200).
Relative Strength Index/RSI (14)	57.71	NEUTRAL	The RSI value for UMC is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.04	POSITIVE	The MACD value suggests UMC has a positive trend.
Stochastics (14,3)	86.08	OVERBOUGHT	The high Stochastics value suggests UMC may be overbought.
Average True Range in percent/ATR (20)	1.54	LOW VOLATILITY	The low ATR as a percentage value for UMC suggests low volalility.
Average Directional Index/ADX (14)	14.89	NEGATIVE	The low ADX value for UMC suggests a weak or negative trend.