BMA Technical Analysis - BANCO MACRO SA-ADR

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to BMA. BMA's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

87% of all other stocks performed better in the past year than BMA.

BMA is part of the Banks industry. There are 393 other stocks in this industry, of which 94% are performing better than BMA.

BMA is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month BMA has a been trading in the 56.35 - 76.03 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BANCO MACRO SA-ADR / BMA Weekly stock chart

BANCO MACRO SA-ADR / BMA Daily stock chart

Setup Rating and Analysis

The technical rating of BMA is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

57.42

94.69

5 important resistance areas can be observed.

A resistance zone ranging from 59.48 to 59.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 67.94 to 70.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @79.94 from a trend line in the weekly time frame.
Resistance @81.52 from a trend line in the daily time frame.
Resistance @93.75 from a horizontal line in the daily time frame.

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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	DOWN	NEGATIVE	The long term trend for BMA is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for BMA is down.
ChartMill Relative Strength	13.33	NEGATIVE	BMA has a low relative strength, it was outperformed by 86.67% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of BMA is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of BMA is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of BMA is below a declining SMA(200).
Relative Strength Index/RSI (14)	35.1	NEUTRAL	The RSI value for BMA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-1.28	NEGATIVE	The MACD value suggests BMA has a negative trend, although the MACD value is rising.
Stochastics (14,3)	8.97	OVERSOLD	The low Stochastics value suggests BMA may be oversold.
Average True Range in percent/ATR (20)	5.56	HIGH VOLATILITY	The high ATR as a percentage value for BMA suggests high volalility.
Average Directional Index/ADX (14)	22.42	NEUTRAL	The ADX value for BMA suggests a possible start of a new trend.