VEI Technical Analysis - VEIDEKKE ASA

Technical Rating and Analysis

We assign a technical rating of 7 out of 10 to VEI. In the last year, VEI was one of the better performers, but we do observe some doubts in the very recent evolution.

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!

When comparing the yearly performance of all stocks, we notice that VEI is one of the better performing stocks in the market, outperforming 73% of all stocks. We also observe that the gains produced by VEI over the past year are nicely spread over this period.

VEI 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 VEI is lagging the market slightly.

In the last month VEI has a been trading in the 154.00 - 164.40 range, which is quite wide. It is currently trading near the high of this range.

VEI is an average performer in the Construction & Engineering industry, it outperforms 52% of 41 stocks in the same industry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although VEI has an excellent technical rating, it does not present a decent entry opportunity 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

136.22

171.71

We found 2 important support areas.

A support zone ranging from 154.79 to 160.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @137.60 from a horizontal line in the daily time frame.

We found 1 important resistance area.

A resistance zone ranging from 167.21 to 170.01. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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 VEI.OL is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for VEI.OL is neutral.
ChartMill Relative Strength	73.36	POSITIVE	VEI.OL has a high relative strength, it outperformed 73.36% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of VEI.OL is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of VEI.OL is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of VEI.OL is above the rising SMA(200).
Relative Strength Index/RSI (14)	55.9	NEUTRAL	The RSI value for VEI.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.63	POSITIVE	The MACD value suggests VEI.OL has a positive trend.
Stochastics (14,3)	87.89	OVERBOUGHT	The high Stochastics value suggests VEI.OL may be overbought.
Average True Range in percent/ATR (20)	1.41	LOW VOLATILITY	The low ATR as a percentage value for VEI.OL suggests low volalility.
Average Directional Index/ADX (14)	19.74	NEGATIVE	The low ADX value for VEI.OL suggests a weak or negative trend.