WETH Technical Analysis - WETOUCH TECHNOLOGY INC

Technical Rating and Analysis

Taking everything into account, WETH scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, WETH is showing a nice and steady performance.

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

WETH is part of the Electronic Equipment, Instruments & Components industry. There are 123 other stocks in this industry. WETH outperforms 83% of them.

A new 52 week high is currently being made by WETH, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.

In the last month WETH has a been trading in the 1.15 - 2.36 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, WETH did better than 95% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

WETOUCH TECHNOLOGY INC / WETH Weekly stock chart

WETOUCH TECHNOLOGY INC / WETH Daily stock chart

Setup Rating and Analysis

Although WETH has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.81

2.29

3 important support areas can be observed.

A support zone ranging from 1.39 to 1.41. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 1.29 to 1.30. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @0.82 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 WETH is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for WETH is up.
ChartMill Relative Strength	95.94	POSITIVE	WETH has a high relative strength, it outperformed 95.94% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of WETH is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of WETH is above the rising 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)	81.5	OVERBOUGHT	The high RSI value suggests WETH may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.05	POSITIVE	The MACD value suggests WETH has a positive trend.
Stochastics (14,3)	88.52	OVERBOUGHT	The high Stochastics value suggests WETH may be overbought.
Average True Range in percent/ATR (20)	8.52	HIGH VOLATILITY	The high ATR as a percentage value for WETH suggests high volalility.
Average Directional Index/ADX (14)	47.09	POSITIVE	The high ADX value value for WETH suggests a strong trend.