CHEMUNG FINANCIAL CORP (CHMG) Stock Technical Analysis
NASDAQ:CHMG - Nasdaq - US1640241014 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to CHMG. CHMG has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
CHMG is one of the lesser performing stocks in the Banks industry. 71% of 395 stocks in the same industry do better.
Warning: CHMG has an average volume of 10222 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
In the last month CHMG has a been trading in the 45.55 - 50.00 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
When comparing the performance of all stocks over the past year, CHMG turns out to be only a medium performer in the overall market: it outperformed 53% of all stocks.
CHMG is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CHMG is lagging the market slightly.
CHMG has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 47.12, 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.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
39.08
49.96
We found 3 important support areas.
- A support zone ranging from 46.54 to 47.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 40.72 to 40.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @39.47 from a horizontal line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 48.31 to 48.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @49.47 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 | NEUTRAL | NEUTRAL | The long term trend for CHMG is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CHMG is up. |
| ChartMill Relative Strength | 53.86 | NEUTRAL | CHMG is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CHMG is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of CHMG is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of CHMG is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.41 | NEUTRAL | The RSI value for CHMG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests CHMG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 63.85 | NEUTRAL | The Stochastics value for CHMG is a neutral value. |
| Average True Range in percent/ATR (20) | 2.72 | MEDIUM VOLATILITY | The ATR as a percentage value for CHMG suggests some volalility. |
| Average Directional Index/ADX (14) | 13.27 | 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)
47.15
-1.25 (-2.58%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-2.58%
1 Week1.03%
2 Weeks0.6%
1 Month-3.06%
3 Month-3.4%
6 Month-12.94%
12 Month10.04%
2 Year22.75%
3 Year0.32%
5 Year72.71%
10 Year78.06%
15 YearN/A
Volatility
ATR(14)1.36
ATR(20)%2.72%
ATR Inc48.85%
Range Today2.95
ADR(20)1.14
ADR(20)%2.42%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS53.86
Mansfield-0.51
10 Day High50
10 Day Low45.55
20 Day High50
20 Day Low45.55
52 Week High55.73
52 Week Low40.71
CS1 End47.12
CR1 Start48.31
Volume & EV
DER(3)7.68%
DER(5)4.24%
Volume11.20K
Volume Incr-31.04%
Vol(5)6.72K
Vol(50)10.22K