WETH Technical Analysis - WETOUCH TECHNOLOGY INC

Technical Rating and Analysis

We assign a technical rating of 7 out of 10 to WETH. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, WETH is a bad performer.

When comparing the yearly performance of all stocks, WETH is a bad performer in the overall market: 75% of all stocks are doing better.

WETH is one of the lesser performing stocks in the Electronic Equipment, Instruments & Components industry. 65% of 124 stocks in the same industry do better.

WETH is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

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

WETH 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.

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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

Besides having an excellent technical rating, WETH also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 1.29. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.81

1.32

3 important support areas can be observed.

A support zone ranging from 1.11 to 1.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @0.98 from a trend line in the daily time frame.
Support @0.82 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 1.29 to 1.31. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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 WETH is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for WETH is up.
ChartMill Relative Strength	25.31	NEGATIVE	WETH has a low relative strength, it was outperformed by 74.69% 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)	DOWN	MIXED	The current price of WETH is above a declining SMA(200).
Relative Strength Index/RSI (14)	61.8	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, although the MACD value is declining.
Stochastics (14,3)	68.25	NEUTRAL	The Stochastics value for WETH is a neutral value.
Average True Range in percent/ATR (20)	11.51	HIGH VOLATILITY	The high ATR as a percentage value for WETH suggests high volalility.
Average Directional Index/ADX (14)	38.33	POSITIVE	The high ADX value value for WETH suggests a strong trend.