UNITED STATES OIL FUND LP (USO) Technical Analysis
NYSEARCA:USO • US91232N2071
Current stock price
USO Technical Rating and Analysis
We assign a technical rating of 9 out of 10 to USO. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, USO is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- USO 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 USO is lagging the market slightly.
- USO has an average volume of 40197000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, USO did better than 94% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- In the last month USO has a been trading in the 109.02 - 143.98 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
USO Weekly and Daily overview Charts
USO Setup Rating and Analysis
Besides having an excellent technical rating, USO also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 116.04, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for USO in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
USO Support and Resistance Analysis
67.13
We found 7 important support areas.
- Support @118.92 from a trend line in the daily time frame.
- A support zone ranging from 116.04 to 116.04. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @88.96 from a trend line in the daily time frame.
- Support @75.19 from a horizontal line in the daily time frame.
- Support @72.30 from a horizontal line in the daily time frame.
- Support @70.22 from a trend line in the weekly time frame.
- Support @67.81 from a horizontal line in the daily time frame.
USO 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 | UP | POSITIVE | The long term trend for USO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for USO is up. |
| ChartMill Relative Strength | 94.46 | POSITIVE | USO has a high relative strength, it outperformed 94.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of USO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of USO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of USO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.58 | NEUTRAL | The RSI value for USO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.48 | NEGATIVE | The MACD value suggests USO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 47.51 | NEUTRAL | The Stochastics value for USO is a neutral value. |
| Average True Range in percent/ATR (20) | 6.12 | HIGH VOLATILITY | The high ATR as a percentage value for USO suggests high volalility. |
| Average Directional Index/ADX (14) | 27.3 | POSITIVE | The high ADX value value for USO suggests a strong trend. |
USO Chart- and CandleStick Pattern Analysis
USO Example Setup
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 |
|---|---|---|---|
| 133.54 | 116.03 | 17.51 (13.11%) | 7.63% |
| An entry @133.54. This is a Buy Stop order right above the 10 day high. | An exit @116.03. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 17.51 points, which is 13.11%. | For a 1.00% total portfolio risk, you can invest 7.63% 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.
USO Technicals: Chart, Performance Metrics, Trend & Indicators
129.4
+1.15 (+0.9%)
UNITED STATES OIL FUND LP / USO TA FAQ
What is the ChartMill technical rating of UNITED STATES OIL FUND LP (USO) stock?
ChartMill assigns a technical rating of 8 / 10 to USO.
What is the current trend direction of UNITED STATES OIL FUND LP (USO) stock?
The current trend direction for UNITED STATES OIL FUND LP (USO) is Bullish.
Can you provide the RSI signal for UNITED STATES OIL FUND LP?
UNITED STATES OIL FUND LP (USO) has an RSI value of 57.5783. This indicates that the stock is currently neutral.
What is the short term momentum for UNITED STATES OIL FUND LP (USO) stock?
The short term momentum for UNITED STATES OIL FUND LP (USO) is positive.
What is the buy/sell signal for UNITED STATES OIL FUND LP (USO) stock?
The buy/sell signal for UNITED STATES OIL FUND LP (USO) is buy as both the short term and long term trends are positive.