BEACON ROOFING SUPPLY INC (BECN) Technical Analysis
NASDAQ:BECN • US0736851090
Current stock price
BECN Technical Rating and Analysis
Taking everything into account, BECN scores 10 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, BECN is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, BECN did better than 89% of all other stocks.
- BECN is part of the Trading Companies & Distributors industry. There are 48 other stocks in this industry. BECN outperforms 93% of them.
- BECN is currently making a new 52 week high. This is a strong signal. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so BECN is leading the market.
- BECN has an average volume of 2876820 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month BECN has a been trading in a tight range between 121.16 and 124.31.
BECN Weekly and Daily overview Charts
BECN Setup Rating and Analysis
Besides having an excellent technical rating, BECN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 124.19. Right above this resistance zone may be a good entry point. 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
BECN Support and Resistance Analysis
82.87
When analyzing the support we can see 4 important areas.
- A support zone ranging from 119.73 to 121.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 111.10 to 111.10. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @90.72 from a trend line in the weekly time frame.
- Support @83.71 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 124.19 to 124.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
BECN 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 | UP | POSITIVE | The long term trend for BECN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BECN is up. |
| ChartMill Relative Strength | 89.49 | POSITIVE | BECN has a high relative strength, it outperformed 89.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BECN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BECN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BECN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.87 | NEUTRAL | The RSI value for BECN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests BECN has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 98.41 | OVERBOUGHT | The high Stochastics value suggests BECN may be overbought. |
| Average True Range in percent/ATR (20) | 0.53 | LOW VOLATILITY | The low ATR as a percentage value for BECN suggests low volalility. |
| Average Directional Index/ADX (14) | 16.88 | NEGATIVE | The low ADX value for BECN suggests a weak or negative trend. |
BECN Chart- and CandleStick Pattern Analysis
BECN Example Setup
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 |
|---|---|---|---|
| 124.20 | 122.95 | 1.25 (1.01%) | 25.00% |
| An entry @124.20. This is a Buy Stop order right above the resistance zone. | An exit @122.95. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.25 points, which is 1.01%. | For a 0.25% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
BECN Technicals: Chart, Performance Metrics, Trend & Indicators
124.17
-0.02 (-0.02%)
BEACON ROOFING SUPPLY INC / BECN TA FAQ
What is the ChartMill technical rating of BEACON ROOFING SUPPLY INC (BECN) stock?
ChartMill assigns a technical rating of 10 / 10 to BECN.
What is the trend direction for BECN stock?
The current trend direction for BEACON ROOFING SUPPLY INC (BECN) is Bullish.
Can you provide the RSI signal for BEACON ROOFING SUPPLY INC?
BEACON ROOFING SUPPLY INC (BECN) has an RSI value of 63.8675. This indicates that the stock is currently neutral.
What is the short term momentum for BEACON ROOFING SUPPLY INC (BECN) stock?
The short term momentum for BEACON ROOFING SUPPLY INC (BECN) is positive.
What is the buy/sell signal for BEACON ROOFING SUPPLY INC (BECN) stock?
The buy/sell signal for BEACON ROOFING SUPPLY INC (BECN) is buy as both the short term and long term trends are positive.