VEON Technical Analysis - VEON LTD

Technical Rating and Analysis

Taking everything into account, VEON scores 8 out of 10 in our technical rating. In the last year, VEON was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

Looking at the yearly performance, VEON did better than 91% of all other stocks. On top of that, VEON also shows a nice and consistent pattern of rising prices.

VEON is part of the Wireless Telecommunication Services industry. There are 22 other stocks in this industry. VEON outperforms 100% of them.

VEON 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 VEON is lagging the market slightly.

Both the short term and long term trends are neutral. So this is not the most entertaining stock around.

In the last month VEON has a been trading in the 48.71 - 55.99 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

Setup Rating and Analysis

Although VEON 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

37.62

55.50

When analyzing the support we can see 6 important areas.

Support @50.33 from a horizontal line in the weekly time frame.
Support @48.84 from a horizontal line in the daily time frame.
Support @43.36 from a trend line in the weekly time frame.
Support @39.81 from a trend line in the weekly time frame.
Support @38.91 from a horizontal line in the weekly time frame.
Support @38.00 from a horizontal line in the daily time frame.

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What is Support and Resistance

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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	NEUTRAL	NEUTRAL	The long term trend for VEON is neutral.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for VEON is neutral.
ChartMill Relative Strength	91.28	POSITIVE	VEON has a high relative strength, it outperformed 91.28% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of VEON is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of VEON is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of VEON is above the rising SMA(200).
Relative Strength Index/RSI (14)	56.69	NEUTRAL	The RSI value for VEON is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.18	POSITIVE	The MACD value suggests VEON has a positive trend.
Stochastics (14,3)	48.78	NEUTRAL	The Stochastics value for VEON is a neutral value.
Average True Range in percent/ATR (20)	4.06	MEDIUM VOLATILITY	The ATR as a percentage value for VEON suggests some volalility.
Average Directional Index/ADX (14)	19.49	NEGATIVE	The low ADX value for VEON suggests a weak or negative trend.