RETRACTABLE TECHNOLOGIES INC. - Daily - Technical analysis published on 07/28/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 4.70 USD
My targets
5.50 USD (+12.08%)
6.06 USD (+23.36%)
My analysis
RETRACTABLE TECHNOLOGIES INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 4.70 USD. The next resistance located at 5.50 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 6.06 USD. After this resistance, buyers could then target 6.74 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
RETRACTABLE TECHNOLOGIES INC. rating 4.91 USD. The price registered a decrease of -0.20% on the session and was traded between 4.85 USD and 4.99 USD over the period. The price is currently at +1.24% from its lowest and -1.60% from its highest.4.85
4.99
4.91
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of RETRACTABLE TECHNOLOGIES INC. indicates that the overall trend is strongly bullish. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.10 | 3.60 | 4.70 | 4.91 | 5.54 | 6.74 | 8.84 |
| Change (%) | -57.23% | -26.68% | -4.28% | - | +12.83% | +37.27% | +80.04% |
| Change | -2.81 | -1.31 | -0.21 | - | +0.63 | +1.83 | +3.93 |
| Level | Major | Minor | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.75 | 4.79 | 4.86 | 4.90 | 4.97 | 5.01 | 5.08 |
| Camarilla | 4.89 | 4.90 | 4.91 | 4.92 | 4.93 | 4.94 | 4.95 |
| Woodie | 4.76 | 4.80 | 4.87 | 4.91 | 4.98 | 5.02 | 5.09 |
| Fibonacci | 4.79 | 4.84 | 4.86 | 4.90 | 4.95 | 4.97 | 5.01 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.88 | 4.20 | 4.54 | 4.86 | 5.20 | 5.52 | 5.86 |
| Camarilla | 4.71 | 4.77 | 4.83 | 4.89 | 4.95 | 5.01 | 5.07 |
| Woodie | 3.90 | 4.21 | 4.56 | 4.87 | 5.22 | 5.53 | 5.88 |
| Fibonacci | 4.20 | 4.45 | 4.61 | 4.86 | 5.11 | 5.27 | 5.52 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.89 | 2.72 | 3.28 | 4.11 | 4.67 | 5.50 | 6.06 |
| Camarilla | 3.45 | 3.58 | 3.70 | 3.83 | 3.96 | 4.09 | 4.21 |
| Woodie | 1.75 | 2.65 | 3.14 | 4.04 | 4.53 | 5.43 | 5.92 |
| Fibonacci | 2.72 | 3.25 | 3.58 | 4.11 | 4.64 | 4.97 | 5.50 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 66.22 | |
| MACD (12,26,9): | 0.2200 | |
| Directional Movement: | 16.80 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 4.87 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.72 | |
| Elder Ray (13): | 0.20 | |
| Super Trend (3,10): | 4.27 | |
| Zig ZAG (10): | 4.94 | |
| VORTEX (21): | 1.2500 | |
| Stochastique (14,3,5): | 72.51 | |
| TEMA (21): | 5.01 | |
| Williams %R (14): | -27.06 | |
| Chande Momentum Oscillator (20): | 0.50 | |
| Repulse (5,40,3): | 2.2400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.6100 | |
| Courbe Coppock: | 34.32 |
| MA7: | 4.89 | |
| MA20: | 4.52 | |
| MA50: | 4.28 | |
| MA100: | 4.28 | |
| MAexp7: | 4.85 | |
| MAexp20: | 4.60 | |
| MAexp50: | 4.40 | |
| MAexp100: | 4.68 | |
| Price / MA7: | +0.41% | |
| Price / MA20: | +8.63% | |
| Price / MA50: | +14.72% | |
| Price / MA100: | +14.72% | |
| Price / MAexp7: | +1.24% | |
| Price / MAexp20: | +6.74% | |
| Price / MAexp50: | +11.59% | |
| Price / MAexp100: | +4.91% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The last news published on RETRACTABLE TECHNOLOGIES INC. at the time of the generation of this analysis was as follows:
- Retractable Technologies, Inc. Declares Dividends to Series II and III Class B Preferred Stock Shareholders
- Retractable Technologies, Inc. Announces Reduction in Workforce
- Retractable Technologies, Inc. Reports $9.7 Million in Operating Income for the First Three Months Of 2022
- Retractable Technologies, Inc. Announces Termination of Buyback Plan
- Retractable Technologies, Inc. Reports Results for 2021
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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