WBTN Technical Analysis - WEBTOON ENTERTAINMENT INC

Technical Rating and Analysis

We assign a technical rating of 9 out of 10 to WBTN. Both in the recent history as in the last year, WBTN has proven to be a steady performer, scoring decent points in every aspect analyzed.

Both the short term and long term trends are positive. This is a very positive sign.

WBTN is one of the better performing stocks in the Interactive Media & Services industry, it outperforms 92% of 69 stocks in the same industry.

WBTN 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 WBTN is lagging the market slightly.

WBTN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

WBTN has an average volume of 1109010 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the yearly performance of all stocks, we notice that WBTN is one of the better performing stocks in the market, outperforming 96% of all stocks. However, this relatively good performance is mostly due to a recent big move.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

WEBTOON ENTERTAINMENT INC / WBTN Weekly stock chart

WEBTOON ENTERTAINMENT INC / WBTN Daily stock chart

Setup Rating and Analysis

Although WBTN 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

9.09

21.52

2 important support areas can be observed.

A support zone ranging from 20.02 to 20.04. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @9.18 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 21.31 to 21.31. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Support and Resistance indicators

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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 WBTN is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for WBTN is up.
ChartMill Relative Strength	96.21	POSITIVE	WBTN has a high relative strength, it outperformed 96.21% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of WBTN is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of WBTN is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of WBTN is above the rising SMA(200).
Relative Strength Index/RSI (14)	69.5	NEUTRAL	The RSI value for WBTN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.27	POSITIVE	The MACD value suggests WBTN has a positive trend, although the MACD value is declining.
Stochastics (14,3)	74.14	NEUTRAL	The Stochastics value for WBTN is a neutral value.
Average True Range in percent/ATR (20)	6.3	HIGH VOLATILITY	The high ATR as a percentage value for WBTN suggests high volalility.
Average Directional Index/ADX (14)	46.7	POSITIVE	The high ADX value value for WBTN suggests a strong trend.