COMMERCIAL METALS CO (CMC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CMC - US2017231034 - Common Stock
We assign a technical rating of 10 out of 10 to CMC. Both in the recent history as in the last year, CMC has proven to be a steady performer, scoring decent points in every aspect analyzed.
- CMC is part of the Metals & Mining industry. There are 156 other stocks in this industry, of which 62% are performing better than CMC.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, CMC did better than 90% of all other stocks. On top of that, CMC also shows a nice and consistent pattern of rising prices.
- CMC is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month CMC has a been trading in the 69.03 - 79.61 range, which is quite wide. It is currently trading near the high of this range.
- CMC has an average volume of 1120670 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although CMC has an excellent technical rating, it does not offer a high 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.
More info and screens
56.22
3 important support areas can be observed.
- A support zone ranging from 67.84 to 69.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @62.29 from a trend line in the daily time frame.
- Support @56.79 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 | UP | POSITIVE | The long term trend for CMC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CMC is up. |
| ChartMill Relative Strength | 90.88 | POSITIVE | CMC has a high relative strength, it outperformed 90.88% 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) | UP | POSITIVE | The current price of CMC is above the rising 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) | 67.47 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests CMC has a positive trend. |
| Stochastics (14,3) | 86.63 | OVERBOUGHT | The high Stochastics value suggests CMC may be overbought. |
| Average True Range in percent/ATR (20) | 2.66 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 34.88 | POSITIVE | The high ADX value value for CMC suggests a strong trend. |
77.37
-0.49 (-0.63%)
COMMERCIAL METALS CO / CMC FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 10 / 10 to CMC.
What is the trend direction for CMC stock?
The current trend direction for COMMERCIAL METALS CO (CMC) is Bullish.
What is the RSI signal for CMC stock?
COMMERCIAL METALS CO (CMC) has an RSI value of 67.465. This indicates that the stock is currently neutral.
What is the MACD signal for CMC stock?
The MACD indicator for COMMERCIAL METALS CO (CMC) has a value of 0.205087, indicating a bearish trend.
What are the support and resistance levels for COMMERCIAL METALS CO (CMC) stock?
COMMERCIAL METALS CO (CMC) has a support level at 69.49. Check the full technical report for our detailed analysis of CMC support and resistance levels.