COMMERCIAL METALS CO (CMC) Technical Analysis
NYSE:CMC • US2017231034
Current stock price
CMC Technical Rating and Analysis
Overall CMC gets a technical rating of 5 out of 10. Although CMC is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- CMC is one of the lesser performing stocks in the Metals & Mining industry. 61% of 160 stocks in the same industry do better.
- When comparing the yearly performance of all stocks, we notice that CMC is one of the better performing stocks in the market, outperforming 77% of all 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 - 66.67 range, which is quite wide. It is currently trading near the high of this range.
- CMC has an average volume of 1273720 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- 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
CMC has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 66.26. 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 58.28 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.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 66.26 to 66.57. 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 | NEUTRAL | NEUTRAL | The short term trend for CMC is neutral. |
| ChartMill Relative Strength | 77.54 | POSITIVE | CMC has a high relative strength, it outperformed 77.54% 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) | 55.1 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.12 | POSITIVE | The MACD value suggests CMC has a positive trend. |
| Stochastics (14,3) | 93.36 | OVERBOUGHT | The high Stochastics value suggests CMC may be overbought. |
| Average True Range in percent/ATR (20) | 3.63 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 26.07 | POSITIVE | The high ADX value value for CMC suggests a strong trend. |
CMC Chart- and CandleStick Pattern Analysis
CMC Technicals: Chart, Performance Metrics, Trend & Indicators
66.25
+0.46 (+0.7%)
COMMERCIAL METALS CO / CMC TA FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 5 / 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 55.0972. 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 neutral.
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 66.26. Check the full technical report for our detailed analysis of CMC support and resistance levels.