United States 3X Oil Fund (USOU) Stock Technical Analysis
USA - NYSEARCA:USOU -
We assign a technical rating of 5 out of 10 to USOU. In the past year, USOU was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is only medium, USOU does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 23.28. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for USOU 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.
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17.89
We found 3 important support areas.
- A support zone ranging from 21.75 to 22.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 20.04 to 20.40. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @18.07 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 23.28 to 23.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @25.43 from a trend 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 | NEUTRAL | NEUTRAL | The long term trend for USOU is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for USOU is up. |
| ChartMill Relative Strength | 32.02 | NEUTRAL | USOU is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of USOU is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of USOU is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of USOU is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.97 | NEUTRAL | The RSI value for USOU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.14 | POSITIVE | The MACD value suggests USOU has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 83.23 | OVERBOUGHT | The high Stochastics value suggests USOU may be overbought. |
| Average True Range in percent/ATR (20) | 6.06 | HIGH VOLATILITY | The high ATR as a percentage value for USOU suggests high volalility. |
NYSEARCA:USOU (12/12/2019, 8:09:52 PM)
23.27
+0.38 (+1.66%)
United States 3X Oil Fund / USOU FAQ
What is the ChartMill technical rating of United States 3X Oil Fund (USOU) stock?
ChartMill assigns a technical rating of 5 / 10 to USOU.
What is the trend direction for USOU stock?
The current trend direction for United States 3X Oil Fund (USOU) is Bearish.
What is the RSI signal for USOU stock?
United States 3X Oil Fund (USOU) has an RSI value of 57.9656. This indicates that the stock is currently neutral.
What are the support and resistance levels for United States 3X Oil Fund (USOU) stock?
United States 3X Oil Fund (USOU) has a support level at 22.03 and a resistance level at 23.28. Check the full technical report for our detailed analysis of USOU support and resistance levels.