BANCO MACRO SA-ADR (BMA) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BMA - US05961W1053 - ADR
We assign a technical rating of 9 out of 10 to BMA. Both in the recent history as in the last year, BMA has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, BMA also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 89.83. Right above this resistance zone may be a good entry point.
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84.94
When analyzing the support we notice one important area.
- Support @85.80 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 89.83 to 92.48. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @94.89 from a horizontal line in the daily time frame.
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 BMA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BMA is up. |
| ChartMill Relative Strength | 93.36 | POSITIVE | BMA has a high relative strength, it outperformed 93.36% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BMA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BMA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BMA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.56 | NEUTRAL | The RSI value for BMA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.34 | NEGATIVE | The MACD value suggests BMA has a negative trend. |
| Stochastics (14,3) | 70.47 | NEUTRAL | The Stochastics value for BMA is a neutral value. |
| Average True Range in percent/ATR (20) | 4.31 | MEDIUM VOLATILITY | The ATR as a percentage value for BMA suggests some volalility. |
| Average Directional Index/ADX (14) | 33.79 | POSITIVE | The high ADX value value for BMA suggests a strong trend. |
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 |
|---|---|---|---|
| 92.49 | 85.79 | 6.70 (7.24%) | 13.80% |
| An entry @92.49. This is a Buy Stop order right above the resistance zone. | An exit @85.79. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 6.70 points, which is 7.24%. | When investing 13.80% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
89.79
-0.54 (-0.6%)
BANCO MACRO SA-ADR / BMA FAQ
What is the ChartMill technical rating of BANCO MACRO SA-ADR (BMA) stock?
ChartMill assigns a technical rating of 9 / 10 to BMA.
Can you provide the trend direction for BANCO MACRO SA-ADR?
The current trend direction for BANCO MACRO SA-ADR (BMA) is Bullish.
Can you provide the RSI signal for BANCO MACRO SA-ADR?
BANCO MACRO SA-ADR (BMA) has an RSI value of 57.5577. This indicates that the stock is currently neutral.
Can you provide the MACD signal for BANCO MACRO SA-ADR?
The MACD indicator for BANCO MACRO SA-ADR (BMA) has a value of -0.343427, indicating a bearish trend.
What are the support and resistance levels for BANCO MACRO SA-ADR (BMA) stock?
BANCO MACRO SA-ADR (BMA) has a support level at 85.8 and a resistance level at 89.83. Check the full technical report for our detailed analysis of BMA support and resistance levels.