UNITED STATES OIL FUND LP (USO) Stock Technical Analysis
NYSEARCA:USO - NYSE Arca - US91232N2071 - ETF - Currency: USD
Taking everything into account, USO scores 7 out of 10 in our technical rating. USO has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
USO is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so USO is performing more or less in line with the market.
In the last month USO has a been trading in the 65.96 - 82.89 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
USO has an average volume of 7191830 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that USO is one of the better performing stocks in the market, outperforming 70% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although USO has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
62.71
83.35
We found 3 important support areas.
- A support zone ranging from 74.53 to 74.73. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @69.75 from a horizontal line in the daily time frame.
- Support @63.34 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 82.40 to 82.52. This zone is formed by a combination of multiple trend lines in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for USO is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for USO is up. |
| ChartMill Relative Strength | 70.76 | POSITIVE | USO has a high relative strength, it outperformed 70.76% 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) | 76.82 | OVERBOUGHT | The high RSI value suggests USO may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.31 | POSITIVE | The MACD value suggests USO has a positive trend. |
| Stochastics (14,3) | 91.22 | OVERBOUGHT | The high Stochastics value suggests USO may be overbought. |
| Average True Range in percent/ATR (20) | 2.55 | MEDIUM VOLATILITY | The ATR as a percentage value for USO suggests some volalility. |
| Average Directional Index/ADX (14) | 23.7 | NEUTRAL | The ADX value for USO suggests a possible start of a new 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)
82.3
+3.71 (+4.72%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg4.72%
1 Week14.94%
2 Weeks17.76%
1 Month20.13%
3 Month11.53%
6 Month12.59%
12 Month4.64%
2 Year29.5%
3 Year2.43%
5 Year193.3%
10 Year-48.25%
15 Year-69.71%
Volatility
ATR(14)2.42
ATR(20)%2.55%
ATR Inc101.25%
Range Today2.8
ADR(20)1.57
ADR(20)%1.91%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS70.76
Mansfield0.7
10 Day High82.89
10 Day Low68.64
20 Day High82.89
20 Day Low65.96
52 Week High84.58
52 Week Low60.67
CS1 End74.73
CR1 Start82.4
Volume & EV
DER(3)-0.49%
DER(5)1.86%
Volume26.24M
Volume Incr423.84%
Vol(5)24.28M
Vol(50)7.19M