COMMERCIAL METALS CO (CMC) Stock Technical Analysis
NYSE:CMC • US2017231034
We assign a technical rating of 9 out of 10 to CMC. In the last year, CMC was one of the better performers, but we do observe some doubts in the very recent evolution.
- CMC is one of the lesser performing stocks in the Metals & Mining industry. 65% of 156 stocks in the same industry do better.
- In the last month CMC has a been trading in the 74.44 - 84.87 range, which is quite wide. It is currently trading near the lows of this range.
- The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
- Looking at the yearly performance, CMC did better than 88% of all other stocks. We also observe that the gains produced by CMC over the past year are nicely spread over this period.
- CMC 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 CMC is lagging the market slightly.
- CMC has an average volume of 1233030 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, CMC 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 a support zone below the current price at 75.63, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CMC 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.
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56.22
We found 3 important support areas.
- A support zone ranging from 75.16 to 75.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @62.64 from a trend line in the daily time frame.
- Support @56.79 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 82.99 to 83.21. 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 CMC is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CMC is neutral. |
| ChartMill Relative Strength | 88.89 | POSITIVE | CMC has a high relative strength, it outperformed 88.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CMC is below a declining 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) | 42.8 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.97 | NEGATIVE | The MACD value suggests CMC has a negative trend. |
| Stochastics (14,3) | 17.23 | OVERSOLD | The low Stochastics value suggests CMC may be oversold. |
| Average True Range in percent/ATR (20) | 3.65 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 28.73 | POSITIVE | The high ADX value value for CMC suggests a strong trend. |
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 |
|---|---|---|---|
| 79.67 | 75.15 | 4.52 (5.67%) | 17.63% |
| An entry @79.67. This is a Buy Stop order right above the 10 day moving average. | An exit @75.15. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 4.52 points, which is 5.67%. | For a 1.00% total portfolio risk, you can invest 17.63% 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.
75.64
-1.16 (-1.51%)
COMMERCIAL METALS CO / CMC FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 9 / 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 42.795. 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 -0.973972, 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 75.63 and a resistance level at 82.99. Check the full technical report for our detailed analysis of CMC support and resistance levels.