COMMERCIAL METALS CO (CMC) Technical Analysis
NYSE:CMC • US2017231034
Current stock price
CMC Technical Rating and Analysis
We assign a technical rating of 2 out of 10 to CMC. 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.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- CMC is one of the lesser performing stocks in the Metals & Mining industry. 64% of 157 stocks in the same industry do better.
- In the last month CMC has a been trading in the 59.28 - 77.20 range, which is quite wide. It is currently trading near the lows of this range.
- CMC has an average volume of 1278840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that CMC is one of the better performing stocks in the market, outperforming 72% of all stocks. However, we also see that CMC couldn't keep up this performance in the last couple of months.
- CMC is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CMC is lagging the market slightly.
CMC Weekly and Daily overview Charts
CMC Setup Rating and Analysis
CMC has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
CMC Support and Resistance Analysis
56.22
We found 2 important support areas.
- A support zone ranging from 60.17 to 60.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
- 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 61.96 to 62.79. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
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 | DOWN | NEGATIVE | The long term trend for CMC is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CMC is down. |
| ChartMill Relative Strength | 72.03 | POSITIVE | CMC has a high relative strength, it outperformed 72.03% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CMC is below a declining 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 | MIXED | The current price of CMC is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 21.97 | OVERSOLD | The low RSI value suggests CMC may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.62 | NEGATIVE | The MACD value suggests CMC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 8.34 | OVERSOLD | The low Stochastics value suggests CMC may be oversold. |
| Average True Range in percent/ATR (20) | 4.17 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 41.67 | 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
60.18
-0.97 (-1.59%)
COMMERCIAL METALS CO / CMC TA FAQ
What is the technical rating for CMC stock?
ChartMill assigns a technical rating of 2 / 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 CMC stock?
COMMERCIAL METALS CO (CMC) has an RSI value of 21.9661. This indicates that the stock is currently oversold.
What is the MACD signal for CMC stock?
The MACD indicator for COMMERCIAL METALS CO (CMC) has a value of -0.618981, 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 60.17 and a resistance level at 61.96. Check the full technical report for our detailed analysis of CMC support and resistance levels.