UNITY BANCORP INC (UNTY) Stock Technical Analysis
NASDAQ:UNTY - Nasdaq - US9132901029 - Common Stock - Currency: USD
Taking everything into account, UNTY scores 8 out of 10 in our technical rating. UNTY was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
Besides having an excellent technical rating, UNTY also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 44.88. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 43.76, a Stop Loss order could be placed below this zone. 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
30.11
5 important support areas can be observed.
- A support zone ranging from 42.99 to 43.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @42.13 from a trend line in the weekly time frame.
- Support @41.32 from a trend line in the daily time frame.
- A support zone ranging from 38.72 to 38.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @30.41 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 44.88 to 45.76. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @47.16 from a horizontal line in the daily time frame.
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 UNTY is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for UNTY is neutral. |
| ChartMill Relative Strength | 91.98 | POSITIVE | UNTY has a high relative strength, it outperformed 91.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of UNTY is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of UNTY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of UNTY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.24 | NEUTRAL | The RSI value for UNTY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests UNTY has a negative trend. |
| Stochastics (14,3) | 49.06 | NEUTRAL | The Stochastics value for UNTY is a neutral value. |
| Average True Range in percent/ATR (20) | 3.14 | MEDIUM VOLATILITY | The ATR as a percentage value for UNTY suggests some volalility. |
| Average Directional Index/ADX (14) | 16.61 | NEGATIVE | The low ADX value for UNTY 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 |
|---|---|---|---|
| 45.77 | 42.98 | 2.79 (6.10%) | 16.41% |
| An entry @45.77. This is a Buy Stop order right above the resistance zone. | An exit @42.98. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.79 points, which is 6.10%. | For a 1.00% total portfolio risk, you can invest 16.41% 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.
43.91
-0.01 (-0.02%)