WRAP TECHNOLOGIES INC (WRAP) Stock Technical Analysis
USA - NASDAQ:WRAP - US98212N1072 - Common Stock
Taking everything into account, WRAP 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, WRAP is showing a nice and steady performance.
Besides having an excellent technical rating, WRAP also presents a decent setup pattern. Prices have been consolidating lately. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
2.30
3 important support areas can be observed.
- A support zone ranging from 2.62 to 2.65. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @2.53 from a trend line in the daily time frame.
- Support @2.32 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 2.82 to 2.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 WRAP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WRAP is up. |
| ChartMill Relative Strength | 95.5 | POSITIVE | WRAP has a high relative strength, it outperformed 95.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WRAP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WRAP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WRAP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.74 | NEUTRAL | The RSI value for WRAP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests WRAP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 76.79 | NEUTRAL | The Stochastics value for WRAP is a neutral value. |
| Average True Range in percent/ATR (20) | 7.98 | HIGH VOLATILITY | The high ATR as a percentage value for WRAP suggests high volalility. |
| Average Directional Index/ADX (14) | 28.57 | POSITIVE | The high ADX value value for WRAP suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 2.87 | 2.61 | 0.26 (9.06%) | 11.04% |
| An entry @2.87. This is a Buy Stop order right above the resistance zone. | An exit @2.61. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.26 points, which is 9.06%. | When investing 11.04% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of WRAP. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
2.81
+0.09 (+3.31%)
WRAP TECHNOLOGIES INC / WRAP FAQ
Can you provide the ChartMill technical rating for WRAP TECHNOLOGIES INC?
ChartMill assigns a technical rating of 9 / 10 to WRAP.
What is the trend direction for WRAP stock?
The current trend direction for WRAP TECHNOLOGIES INC (WRAP) is Bullish.
What is the RSI signal for WRAP stock?
WRAP TECHNOLOGIES INC (WRAP) has an RSI value of 60.7377. This indicates that the stock is currently neutral.
What is the MACD signal for WRAP stock?
The MACD indicator for WRAP TECHNOLOGIES INC (WRAP) has a value of -0.002103, indicating a bearish trend.
What are the support and resistance levels for WRAP TECHNOLOGIES INC (WRAP) stock?
WRAP TECHNOLOGIES INC (WRAP) has a support level at 2.65 and a resistance level at 2.82. Check the full technical report for our detailed analysis of WRAP support and resistance levels.