Fri 23'rd Jun 2017
ING Group NV Stock Analysis
Technical stock analysis for Fri 23'rd Jun 2017
Sell candidate since 2017-06-23
ING Group NV has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately USD 25.97 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
ING Group NV holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 25.97. On a fall, the stock will find some support from the long-term average at approximately USD 25.91. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday May 31, 2017, which indicates further falls until a new bottom pivot has been found.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
ING Group NV finds support from accumulated volume at USD 25.53, USD 25.51, and USD 25.50. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 25.98, USD 25.97 and USD 26.02.
The stock is about to test the resistance from accumulated volume at USD 25.98 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 0.04 (0.15%) between high and low. For the last week, the stock has had a daily average volatility of 0.36%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
ING Group NV holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.