UNITY BANCORP INC (UNTY) Stock Technical Analysis
NASDAQ:UNTY - Nasdaq - US9132901029 - Common Stock - Currency: USD
Overall UNTY gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, UNTY 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, UNTY did better than 86% of all other stocks. We also observe that the gains produced by UNTY over the past year are nicely spread over this period.
UNTY is one of the better performing stocks in the Banks industry, it outperforms 94% of 393 stocks in the same industry.
UNTY is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so UNTY is lagging the market slightly.
In the last month UNTY has a been trading in the 45.58 - 54.64 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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.
More info and screens
40.99
54.54
When analyzing the support we can see 5 important areas.
- Support @50.14 from a horizontal line in the daily time frame.
- A support zone ranging from 46.78 to 47.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 44.88 to 45.27. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 42.98 to 43.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @41.40 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 51.66 to 52.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @54.00 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 | UP | POSITIVE | The short term trend for UNTY is up. |
| ChartMill Relative Strength | 86.99 | POSITIVE | UNTY has a high relative strength, it outperformed 86.99% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of UNTY is below the rising 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) | 51.01 | NEUTRAL | The RSI value for UNTY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.49 | NEGATIVE | The MACD value suggests UNTY has a negative trend. |
| Stochastics (14,3) | 15.58 | OVERSOLD | The low Stochastics value suggests UNTY may be oversold. |
| Average True Range in percent/ATR (20) | 3.63 | MEDIUM VOLATILITY | The ATR as a percentage value for UNTY suggests some volalility. |
| Average Directional Index/ADX (14) | 29.77 | POSITIVE | The high ADX value value for UNTY suggests a strong trend. |
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)
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 |
|---|---|---|---|
| 52.64 | 50.13 | 2.51 (4.77%) | 20.97% |
| An entry @52.64. This is a Buy Stop order right above the resistance zone. | An exit @50.13. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.51 points, which is 4.77%. | When investing 20.97% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of UNTY. Please evaluate whether better entry and exit points can be found.
- 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.
50.36
+0.21 (+0.42%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.42%
1 Week-5.37%
2 Weeks-4.35%
1 Month6.13%
3 Month17.03%
6 Month4.16%
12 Month50.19%
2 Year89.89%
3 Year79.73%
5 Year302.56%
10 Year409.2%
15 Year859.24%
Volatility
ATR(14)1.77
ATR(20)%3.63%
ATR Inc-37.65%
Range Today0.71
ADR(20)1.82
ADR(20)%3.61%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.99
Mansfield0.86
10 Day High54
10 Day Low49.89
20 Day High54.64
20 Day Low45.58
52 Week High54.64
52 Week Low30.28
CS1 End50.14
CR1 Start51.66
Volume & EV
DER(3)-1.83%
DER(5)-1.91%
Volume34.60K
Volume Incr-35.97%
Vol(5)61.04K
Vol(50)70.65K