RING ENERGY INC. - 1H - Technical analysis published on 08/04/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Neutral
Technical indicators
17%
56%
28%
My opinion
Bearish under 2.69 USD
My targets
2.52 USD (-4.91%)
2.36 USD (-10.94%)
My analysis
The current short-term bearish trend is expected to quickly fix the basic bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for RING ENERGY INC. as long as the price remains well below 2.69 USD. The sellers' bearish objective is set at 2.52 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2.36 USD. If there is any crossing, the next objective would be the support located at 2.26 USD.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
2.9
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Additional analysis
Quotes
The RING ENERGY INC. price is 2.65 USD. The price is lower by -0.75% since the last closing and was between 2.58 USD and 2.79 USD. This implies that the price is at +2.71% from its lowest and at -5.02% from its highest.2.58
2.79
2.65
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by RING ENERGY INC.:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of RING ENERGY INC. in 1H shows a neutral overall trend. This indecision could turn into a bearish trend due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate given the direction of the technical indicators.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
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 | 2.26 | 2.36 | 2.52 | 2.65 | 2.69 | 2.86 | 3.01 |
| Change (%) | -14.72% | -10.94% | -4.91% | - | +1.51% | +7.92% | +13.58% |
| Change | -0.39 | -0.29 | -0.13 | - | +0.04 | +0.21 | +0.36 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.35 | 2.47 | 2.57 | 2.69 | 2.79 | 2.91 | 3.01 |
| Camarilla | 2.61 | 2.63 | 2.65 | 2.67 | 2.69 | 2.71 | 2.73 |
| Woodie | 2.34 | 2.47 | 2.56 | 2.69 | 2.78 | 2.91 | 3.00 |
| Fibonacci | 2.47 | 2.55 | 2.61 | 2.69 | 2.77 | 2.83 | 2.91 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.04 | 2.22 | 2.51 | 2.69 | 2.98 | 3.16 | 3.45 |
| Camarilla | 2.68 | 2.72 | 2.77 | 2.81 | 2.85 | 2.90 | 2.94 |
| Woodie | 2.11 | 2.25 | 2.58 | 2.72 | 3.05 | 3.19 | 3.52 |
| Fibonacci | 2.22 | 2.40 | 2.51 | 2.69 | 2.87 | 2.98 | 3.16 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.71 | 1.95 | 2.38 | 2.62 | 3.05 | 3.29 | 3.72 |
| Camarilla | 2.63 | 2.69 | 2.75 | 2.81 | 2.87 | 2.93 | 2.99 |
| Woodie | 1.81 | 2.00 | 2.48 | 2.67 | 3.15 | 3.34 | 3.82 |
| Fibonacci | 1.95 | 2.21 | 2.36 | 2.62 | 2.88 | 3.03 | 3.29 |
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): | 44.10 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | 1.89 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 2.67 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.77 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 2.82 | |
| Zig ZAG (10): | 2.66 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 26.20 | |
| TEMA (21): | 2.64 | |
| Williams %R (14): | -67.39 | |
| Chande Momentum Oscillator (20): | -0.10 | |
| Repulse (5,40,3): | -1.5700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 7.64 |
| MA7: | 2.70 | |
| MA20: | 2.57 | |
| MA50: | 3.29 | |
| MA100: | 3.68 | |
| MAexp7: | 2.66 | |
| MAexp20: | 2.68 | |
| MAexp50: | 2.66 | |
| MAexp100: | 2.65 | |
| Price / MA7: | -1.85% | |
| Price / MA20: | +3.11% | |
| Price / MA50: | -19.45% | |
| Price / MA100: | -27.99% | |
| Price / MAexp7: | -0.38% | |
| Price / MAexp20: | -1.12% | |
| Price / MAexp50: | -0.38% | |
| Price / MAexp100: | -0% |
Quotes :
-
15 min delayed data
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NYSE MKT Stocks
News
The latest news and videos published on RING ENERGY INC. at the time of the analysis were as follows:
- Ring Energy Announces Timing of Second Quarter 2022 Earnings Release and Conference Call
- Ring Energy Announces Agreement to Acquire Stronghold’s Permian Basin Assets
- Ring Energy Set to Join Russell 3000® Index
- Ring Energy Announces Results for First Quarter of 2022
- Ring Energy Provides Operational Update with First Quarter Sales Above the High End of Guidance and Announces Timing of First Quarter Earnings Release and Conference Call
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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