WETOUCH TECHNOLOGY INC (WETH) Stock Technical Analysis
NASDAQ:WETH • US9618812088
Taking everything into account, WETH scores 1 out of 10 in our technical rating. WETH's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- 80% of all other stocks performed better in the past year than WETH.
- WETH is one of the lesser performing stocks in the Electronic Equipment, Instruments & Components industry. 69% of 123 stocks in the same industry do better.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- WETH is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WETH is lagging the market.
- In the last month WETH has a been trading in the 1.44 - 1.97 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
WETH has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 1.69, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WETH in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
0.81
We found 5 important support areas.
- A support zone ranging from 1.66 to 1.69. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 1.49 to 1.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.46 from a horizontal line in the daily time frame.
- Support @1.42 from a trend line in the daily time frame.
- Support @0.82 from a horizontal line in the weekly time frame.
3 important resistance areas can be observed.
- Resistance @1.83 from a trend line in the daily time frame.
- A resistance zone ranging from 1.90 to 1.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.49 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for WETH is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WETH is neutral. |
| ChartMill Relative Strength | 20.3 | NEGATIVE | WETH has a low relative strength, it was outperformed by 79.7% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of WETH is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of WETH is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WETH is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.61 | NEUTRAL | The RSI value for WETH is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests WETH has a positive trend. |
| Stochastics (14,3) | 59.18 | NEUTRAL | The Stochastics value for WETH is a neutral value. |
| Average True Range in percent/ATR (20) | 9.05 | HIGH VOLATILITY | The high ATR as a percentage value for WETH suggests high volalility. |
| Average Directional Index/ADX (14) | 11.86 | NEGATIVE | The low ADX value for WETH suggests a weak or negative trend. |
1.69
-0.02 (-1.17%)
WETOUCH TECHNOLOGY INC / WETH FAQ
What is the ChartMill technical rating of WETOUCH TECHNOLOGY INC (WETH) stock?
ChartMill assigns a technical rating of 1 / 10 to WETH.
What is the current trend direction of WETOUCH TECHNOLOGY INC (WETH) stock?
The current trend direction for WETOUCH TECHNOLOGY INC (WETH) is Bearish.
Can you provide the RSI signal for WETOUCH TECHNOLOGY INC?
WETOUCH TECHNOLOGY INC (WETH) has an RSI value of 50.6114. This indicates that the stock is currently neutral.
What is the MACD signal for WETH stock?
The MACD indicator for WETOUCH TECHNOLOGY INC (WETH) has a value of 0.00838379, indicating a bearish trend.