COMMERCIAL METALS CO (CMC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CMC - US2017231034 - Common Stock
Overall CMC gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CMC is only an average performer.
Although CMC has an excellent technical rating, it does not present a decent entry opportunity 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.
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48.33
When analyzing the support we can see 4 important areas.
- A support zone ranging from 57.93 to 60.05. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 56.79 to 56.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @55.34 from a horizontal line in the daily time frame.
- Support @48.82 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 | 67.72 | NEUTRAL | CMC is not amongst the best or worst performers 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) | 64.67 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.56 | POSITIVE | The MACD value suggests CMC has a positive trend. |
| Stochastics (14,3) | 97.69 | OVERBOUGHT | The high Stochastics value suggests CMC may be overbought. |
| Average True Range in percent/ATR (20) | 2.91 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 17.11 | NEGATIVE | The low ADX value for CMC suggests a weak or negative trend. |
63.78
-0.1 (-0.16%)
COMMERCIAL METALS CO / CMC FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 8 / 10 to CMC.
What is the current trend direction of COMMERCIAL METALS CO (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 64.6651. This indicates that the stock is currently neutral.
Can you provide the MACD signal for COMMERCIAL METALS CO?
The MACD indicator for COMMERCIAL METALS CO (CMC) has a value of 0.557425, indicating a bearish trend.
What is the short term momentum for CMC stock?
The short term momentum for COMMERCIAL METALS CO (CMC) is positive.