CHEMUNG FINANCIAL CORP (CHMG) Stock Technical Analysis
NASDAQ:CHMG • US1640241014
Overall CHMG gets a technical rating of 6 out of 10. In the last year, CHMG was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
- In the last month CHMG has a been trading in the 56.35 - 65.50 range, which is quite wide. It is currently trading near the lows of this range.
- Warning: CHMG has an average volume of 7951 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- 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 62% of all stocks.
- CHMG is an average performer in the Banks industry, it outperforms 47% of 379 stocks in the same industry.
- CHMG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CHMG is lagging the market.
CHMG has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
41.39
6 important support areas can be observed.
- Support @56.15 from a trend line in the daily time frame.
- A support zone ranging from 53.85 to 53.91. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @52.48 from a horizontal line in the daily time frame.
- A support zone ranging from 49.99 to 50.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @49.14 from a horizontal line in the daily time frame.
- Support @41.81 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 56.59 to 57.94. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 59.10 to 60.54. This zone is formed by a combination of multiple trend lines and important moving averages 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 CHMG is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CHMG is neutral. |
| ChartMill Relative Strength | 62.51 | 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) | UP | MIXED | The current price of CHMG is below 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) | 39.19 | NEUTRAL | The RSI value for CHMG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.74 | NEGATIVE | The MACD value suggests CHMG has a negative trend. |
| Stochastics (14,3) | 8.07 | OVERSOLD | The low Stochastics value suggests CHMG may be oversold. |
| Average True Range in percent/ATR (20) | 2.87 | MEDIUM VOLATILITY | The ATR as a percentage value for CHMG suggests some volalility. |
| Average Directional Index/ADX (14) | 25.1 | POSITIVE | The high ADX value value for CHMG suggests a strong trend. |
56.35
-2.41 (-4.1%)
CHEMUNG FINANCIAL CORP / CHMG FAQ
Can you provide the ChartMill technical rating for CHEMUNG FINANCIAL CORP?
ChartMill assigns a technical rating of 6 / 10 to CHMG.
Can you provide the trend direction for CHEMUNG FINANCIAL CORP?
The current trend direction for CHEMUNG FINANCIAL CORP (CHMG) is Bullish.
What is the RSI signal for CHMG stock?
CHEMUNG FINANCIAL CORP (CHMG) has an RSI value of 39.1944. This indicates that the stock is currently neutral.
What is the MACD signal for CHEMUNG FINANCIAL CORP (CHMG) stock?
The MACD indicator for CHEMUNG FINANCIAL CORP (CHMG) has a value of -0.744604, indicating a bearish trend.
What are the support and resistance levels for CHEMUNG FINANCIAL CORP (CHMG) stock?
CHEMUNG FINANCIAL CORP (CHMG) has a support level at 56.15 and a resistance level at 56.59. Check the full technical report for our detailed analysis of CHMG support and resistance levels.