ZTEK Technical Analysis - ZENTEK LTD

Technical Rating and Analysis

Overall ZTEK gets a technical rating of 0 out of 10. ZTEK 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 short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, ZTEK is a bad performer in the overall market: 78% of all stocks are doing better.

ZTEK 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.

In the last month ZTEK has a been trading in the 0.74 - 1.07 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

ZTEK is an average performer in the Health Care Equipment & Supplies industry, it outperforms 52% of 191 stocks in the same industry.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

The technical rating of ZTEK is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.67

0.92

When analyzing the support we can see 2 important areas.

A support zone ranging from 0.76 to 0.77. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @0.68 from a trend line in the weekly time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 0.78 to 0.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 0.89 to 0.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

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	DOWN	NEGATIVE	The long term trend for ZTEK is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for ZTEK is down.
ChartMill Relative Strength	22.06	NEGATIVE	ZTEK has a low relative strength, it was outperformed by 77.94% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of ZTEK is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ZTEK is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ZTEK is below a declining SMA(200).
Relative Strength Index/RSI (14)	41.05	NEUTRAL	The RSI value for ZTEK is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.02	NEGATIVE	The MACD value suggests ZTEK has a negative trend, although the MACD value is rising.
Stochastics (14,3)	13.5	OVERSOLD	The low Stochastics value suggests ZTEK may be oversold.
Average True Range in percent/ATR (20)	10.01	HIGH VOLATILITY	The high ATR as a percentage value for ZTEK suggests high volalility.
Average Directional Index/ADX (14)	31.69	POSITIVE	The high ADX value value for ZTEK suggests a strong trend.