COMMERCIAL METALS CO (CMC) Stock Technical Analysis
NYSE:CMC - New York Stock Exchange, Inc. - US2017231034 - Common Stock - Currency: USD
Taking everything into account, CMC scores 8 out of 10 in our technical rating. Although CMC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
CMC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 50.03. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 49.98, a Stop Loss order could be placed below this zone.
More info and screens
39.94
We found 2 important support areas.
- A support zone ranging from 47.25 to 48.90. 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.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 49.26 to 50.68. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @51.68 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 | 46.65 | NEUTRAL | CMC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CMC is below 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 | NEGATIVE | The current price of CMC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.51 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests CMC has a negative trend. |
| Stochastics (14,3) | 59.26 | NEUTRAL | The Stochastics value for CMC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.06 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 16.89 | 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 |
|---|---|---|---|
| 50.69 | 49.15 | 1.54 (3.04%) | 25.00% |
| An entry @50.69. This is a Buy Stop order right above the resistance zone. | An exit @49.15. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.54 points, which is 3.04%. | For a 0.76% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CMC. Please evaluate whether better entry and exit points can be found.
- 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.
48.91
-1.11 (-2.22%)