COMMERCIAL METALS CO (CMC) Stock Technical Analysis
NYSE:CMC - New York Stock Exchange, Inc. - US2017231034 - Common Stock - Currency: USD
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.
Besides having an excellent technical rating, CMC also presents 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 52.69. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 52.36, a Stop Loss order could be placed below this zone.
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39.94
3 important support areas can be observed.
- A support zone ranging from 51.04 to 52.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 48.37 to 49.44. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @40.34 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 52.69 to 53.05. 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 | UP | POSITIVE | The short term trend for CMC is up. |
| ChartMill Relative Strength | 53.43 | 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) | DOWN | MIXED | The current price of CMC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 61.01 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests CMC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 73.46 | NEUTRAL | The Stochastics value for CMC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.48 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 13.98 | NEGATIVE | The low ADX value for CMC suggests a weak or negative 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 |
|---|---|---|---|
| 53.06 | 51.03 | 2.03 (3.83%) | 25.00% |
| An entry @53.06. This is a Buy Stop order right above the resistance zone. | An exit @51.03. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.03 points, which is 3.83%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.96%. |
- 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.
52.68
+0.18 (+0.34%)