VEECO INSTRUMENTS INC (VECO) Stock Technical Analysis
NASDAQ:VECO - Nasdaq - US9224171002 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to VECO. In the past year, VECO 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.
VECO has a bad technical rating, but it does show 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 21.36. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.11, a Stop Loss order could be placed below this zone.
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19.01
When analyzing the support we can see 3 important areas.
- A support zone ranging from 20.36 to 21.11. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @19.71 from a horizontal line in the daily time frame.
- Support @19.20 from a horizontal line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 21.36 to 21.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 21.81 to 21.90. This zone is formed by a combination of multiple trend lines 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 | DOWN | NEGATIVE | The long term trend for VECO is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for VECO is up. |
| ChartMill Relative Strength | 8.46 | NEGATIVE | VECO has a low relative strength, it was outperformed by 91.54% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of VECO is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of VECO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of VECO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.98 | NEUTRAL | The RSI value for VECO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests VECO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 76.41 | NEUTRAL | The Stochastics value for VECO is a neutral value. |
| Average True Range in percent/ATR (20) | 3.6 | MEDIUM VOLATILITY | The ATR as a percentage value for VECO suggests some volalility. |
| Average Directional Index/ADX (14) | 18.37 | NEGATIVE | The low ADX value for VECO suggests a weak or negative trend. |
21.16
-0.16 (-0.75%)