COMMERCIAL METALS CO (CMC) Stock Technical Analysis
USA - NYSE:CMC - US2017231034 - Common Stock
We assign a technical rating of 6 out of 10 to CMC. 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 only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 57.57, a Stop Loss order could be placed below this zone.
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48.33
We found 3 important support areas.
- A support zone ranging from 56.79 to 57.57. This zone is formed by a combination of multiple trend lines and important moving averages 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.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 58.97 to 59.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @62.25 from a horizontal line in the weekly 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 | NEUTRAL | NEUTRAL | The short term trend for CMC is neutral. |
| ChartMill Relative Strength | 51.45 | 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) | UP | POSITIVE | The current price of CMC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.03 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.31 | NEGATIVE | The MACD value suggests CMC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 30.59 | NEUTRAL | The Stochastics value for CMC is a neutral value. |
| Average True Range in percent/ATR (20) | 4.1 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 9.72 | 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 |
|---|---|---|---|
| 59.35 | 56.78 | 2.57 (4.33%) | 23.09% |
| An entry @59.35. This is a Buy Stop order right above the resistance zone. | An exit @56.78. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.57 points, which is 4.33%. | When investing 23.09% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
58.77
+1.33 (+2.32%)
COMMERCIAL METALS CO / CMC FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 6 / 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 50.0263. 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 -0.313976, indicating a bearish trend.
What is the short term momentum for CMC stock?
The short term momentum for COMMERCIAL METALS CO (CMC) is neutral.