WETOUCH TECHNOLOGY INC (WETH) Stock Technical Analysis
NASDAQ:WETH - Nasdaq - US9618812088 - Common Stock - Currency: USD
Taking everything into account, WETH scores 0 out of 10 in our technical rating. WETH scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, WETH is a bad performer in the overall market: 93% of all stocks are doing better.
WETH is part of the Electronic Equipment, Instruments & Components industry. There are 125 other stocks in this industry, of which 85% are performing better than WETH.
WETH is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so WETH is lagging the market.
In the last month WETH has a been trading in the 0.88 - 1.09 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.
Although the technical rating is bad, WETH does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 0.99. Right above this resistance zone may be a good entry point. 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
0.95
1.34
4 important resistance areas can be observed.
- A resistance zone ranging from 0.99 to 1.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.09 from a horizontal line in the daily time frame.
- A resistance zone ranging from 1.14 to 1.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.33 from a trend line in the daily 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 | DOWN | NEGATIVE | The long term trend for WETH is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WETH is neutral. |
| ChartMill Relative Strength | 7.99 | NEGATIVE | WETH has a low relative strength, it was outperformed by 92.01% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of WETH is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of WETH is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of WETH is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 42.62 | 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) | 57.27 | NEUTRAL | The Stochastics value for WETH is a neutral value. |
| Average True Range in percent/ATR (20) | 8.92 | HIGH VOLATILITY | The high ATR as a percentage value for WETH suggests high volalility. |
| Average Directional Index/ADX (14) | 14.65 | NEGATIVE | The low ADX value for WETH suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
0.9555
-0.04 (-4.45%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryElectronic Equipment, Instruments & Components
Performance
% Chg-4.45%
1 Week-2.5%
2 Weeks-1.49%
1 Month-3.97%
3 Month-33.65%
6 Month-43.79%
12 Month-45.4%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.09
ATR(20)%8.92%
ATR Inc3.83%
Range Today0.04
ADR(20)0.08
ADR(20)%8.45%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS7.99
Mansfield-4.48
10 Day High1.08
10 Day Low0.91
20 Day High1.09
20 Day Low0.88
52 Week High3.62
52 Week Low0.76
CS1 EndN/A
CR1 Start0.99
Volume & EV
DER(3)5.39%
DER(5)-2.85%
Volume14.80K
Volume Incr-63.95%
Vol(5)44.88K
Vol(50)142.30K