VECO Technical Analysis - VEECO INSTRUMENTS INC

Technical Rating and Analysis

We assign a technical rating of 7 out of 10 to VECO. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, VECO is only an average performer.

The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!

VECO has an average volume of 1073200 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the performance of all stocks over the past year, VECO turns out to be only a medium performer in the overall market: it outperformed 67% of all stocks.

VECO is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry, VECO did better than 51% of them.

VECO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so VECO is lagging the market.

In the last month VECO has a been trading in the 25.36 - 34.45 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

VEECO INSTRUMENTS INC / VECO Weekly stock chart

VEECO INSTRUMENTS INC / VECO Daily stock chart

Setup Rating and Analysis

Although VECO has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

19.51

31.93

When analyzing the support we can see 4 important areas.

Support @21.92 from a trend line in the weekly time frame.
Support @21.51 from a trend line in the daily time frame.
Support @20.65 from a trend line in the daily time frame.
Support @19.71 from a horizontal line in the daily time frame.

We found 1 important resistance area.

Resistance @31.61 from a horizontal line in the weekly time frame.

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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 VECO is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for VECO is neutral.
ChartMill Relative Strength	67.39	NEUTRAL	VECO is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of VECO is below the rising 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)	UP	POSITIVE	The current price of VECO is above the rising SMA(200).
Relative Strength Index/RSI (14)	45.94	NEUTRAL	The RSI value for VECO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.44	NEGATIVE	The MACD value suggests VECO has a negative trend.
Stochastics (14,3)	14.13	OVERSOLD	The low Stochastics value suggests VECO may be oversold.
Average True Range in percent/ATR (20)	4.65	MEDIUM VOLATILITY	The ATR as a percentage value for VECO suggests some volalility.
Average Directional Index/ADX (14)	33.68	POSITIVE	The high ADX value value for VECO suggests a strong trend.