CHEMUNG FINANCIAL CORP (CHMG) Stock Technical Analysis
NASDAQ:CHMG - Nasdaq - US1640241014 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to CHMG. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CHMG is only an average performer.
Warning: CHMG has an average volume of 12544 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long and short term trends are both positive. This is looking good!
CHMG is part of the Banks industry. There are 396 other stocks in this industry. CHMG outperforms 73% of them.
CHMG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CHMG is lagging the market slightly.
CHMG is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
When comparing the yearly performance of all stocks, we notice that CHMG is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Besides having an excellent technical rating, CHMG also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 49.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CHMG in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
45.35
55.66
We found 3 important support areas.
- A support zone ranging from 48.62 to 49.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 46.66 to 46.68. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @45.81 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @53.98 from a horizontal line in the daily time frame.
- A resistance zone ranging from 55.10 to 55.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 CHMG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CHMG is up. |
| ChartMill Relative Strength | 73.88 | POSITIVE | CHMG has a high relative strength, it outperformed 73.88% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CHMG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CHMG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CHMG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.43 | NEUTRAL | The RSI value for CHMG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests CHMG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 75.5 | NEUTRAL | The Stochastics value for CHMG is a neutral value. |
| Average True Range in percent/ATR (20) | 4.02 | MEDIUM VOLATILITY | The ATR as a percentage value for CHMG suggests some volalility. |
| Average Directional Index/ADX (14) | 11.5 | NEGATIVE | The low ADX value for CHMG suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 53.99 | 48.99 | 5.00 (9.26%) | 10.80% |
| An entry @53.99. This is a Buy Stop order right above the resistance zone. | An exit @48.99. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 5.00 points, which is 9.26%. | For a 1.00% total portfolio risk, you can invest 10.80% 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.
52.72
+0.34 (+0.65%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.65%
1 Week-2.1%
2 Weeks2.17%
1 Month12.77%
3 Month21.84%
6 Month13.23%
12 Month8.05%
2 Year23.58%
3 Year16.46%
5 Year95.19%
10 Year95.48%
15 YearN/A
Volatility
ATR(14)1.99
ATR(20)%4.02%
ATR Inc9.44%
Range Today2.06
ADR(20)2.11
ADR(20)%3.99%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.88
Mansfield0.11
10 Day High54.25
10 Day Low49
20 Day High54.25
20 Day Low43.2
52 Week High55.73
52 Week Low40.71
CS1 End49.27
CR1 Start53.98
Volume & EV
DER(3)-0.33%
DER(5)3.56%
Volume24.50K
Volume Incr10.28%
Vol(5)17.38K
Vol(50)12.54K