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. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CMC is showing a nice and steady performance.
- CMC is one of the lesser performing stocks in the Metals & Mining industry. 60% of 157 stocks in the same industry do better.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that CMC is one of the better performing stocks in the market, outperforming 89% of all stocks.
- CMC is currently trading near its 52 week high, which is a good sign. 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 68.48 - 76.21 range, which is quite wide. It is currently trading near the high of this range.
- CMC has an average volume of 1079050 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. There is very little resistance above the current price.
More info and screens
56.22
When analyzing the support we can see 3 important areas.
- A support zone ranging from 69.22 to 69.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @61.74 from a trend line in the daily time frame.
- Support @56.79 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @75.80 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 | 89.88 | POSITIVE | CMC has a high relative strength, it outperformed 89.88% 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) | 61.96 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests CMC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.57 | OVERBOUGHT | The high Stochastics value suggests CMC may be overbought. |
| Average True Range in percent/ATR (20) | 2.5 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 35.11 | 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 |
|---|---|---|---|
| 75.81 | 69.44 | 6.37 (8.40%) | 11.90% |
| An entry @75.81. This is a Buy Stop order right above the resistance zone. | An exit @69.44. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 6.37 points, which is 8.40%. | When investing 11.90% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
74.42
-1.38 (-1.82%)
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 61.963. 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 0.0128573, 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 and a resistance level at 75.8. Check the full technical report for our detailed analysis of CMC support and resistance levels.