COMMERCIAL METALS CO (CMC) Technical Analysis
NYSE:CMC • US2017231034
Current stock price
CMC Technical Rating and Analysis
We assign a technical rating of 6 out of 10 to CMC. Although CMC has been one of the better performers in the overall market, we have a mixed picture in the medium term time frame. But recently some decent action can be observed again.
- CMC is one of the lesser performing stocks in the Metals & Mining industry. 62% of 160 stocks in the same industry do better.
- 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.
- Looking at the yearly performance, CMC did better than 75% of all other stocks. On top of that, CMC also shows a nice and consistent pattern of rising prices.
- In the last month CMC has a been trading in the 57.56 - 66.98 range, which is quite wide. It is currently trading near the high of this range.
- CMC has an average volume of 1259160 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- CMC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CMC is lagging the market.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
CMC Weekly and Daily overview Charts
CMC Setup Rating and Analysis
Although the technical rating is only medium, CMC does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 65.95. Right above this resistance zone may be a good entry point.
More info and screens
CMC Support and Resistance Analysis
56.22
When analyzing the support we can see 2 important areas.
- A support zone ranging from 58.27 to 59.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Strong support @56.79 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 65.95 to 66.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
CMC 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 | NEUTRAL | NEUTRAL | The long term trend for CMC is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CMC is up. |
| ChartMill Relative Strength | 75.98 | POSITIVE | CMC has a high relative strength, it outperformed 75.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CMC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CMC is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CMC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.02 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.1 | POSITIVE | The MACD value suggests CMC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.56 | OVERBOUGHT | The high Stochastics value suggests CMC may be overbought. |
| Average True Range in percent/ATR (20) | 3.6 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 24.51 | NEUTRAL | The ADX value for CMC suggests a possible start of a new trend. |
CMC Chart- and CandleStick Pattern Analysis
CMC Example Setup
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 |
|---|---|---|---|
| 66.54 | 59.91 | 6.63 (9.96%) | 10.04% |
| An entry @66.54. This is a Buy Stop order right above the resistance zone. | An exit @59.91. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 6.63 points, which is 9.96%. | For a 1.00% total portfolio risk, you can invest 10.04% 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.
CMC Technicals: Chart, Performance Metrics, Trend & Indicators
65.94
-0.31 (-0.47%)
COMMERCIAL METALS CO / CMC TA FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 6 / 10 to CMC.
What is the trend direction for CMC stock?
The current trend direction for COMMERCIAL METALS CO (CMC) is Bearish.
What is the RSI signal for COMMERCIAL METALS CO (CMC) stock?
COMMERCIAL METALS CO (CMC) has an RSI value of 54.0226. This indicates that the stock is currently neutral.
Can you provide the short term momentum for COMMERCIAL METALS CO?
The short term momentum for COMMERCIAL METALS CO (CMC) is positive.
What are the support and resistance levels for COMMERCIAL METALS CO (CMC) stock?
COMMERCIAL METALS CO (CMC) has a support level at 59.3 and a resistance level at 65.95. Check the full technical report for our detailed analysis of CMC support and resistance levels.