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. Both in the recent history as in the last year, CMC has proven to be a steady performer, scoring decent points in every aspect analyzed.
Although CMC has an excellent technical rating, it does not present a decent entry opportunity 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.
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56.22
When analyzing the support we can see 3 important areas.
- A support zone ranging from 69.22 to 70.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @60.59 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.
- A resistance zone ranging from 71.80 to 71.80. 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 | 91.19 | POSITIVE | CMC has a high relative strength, it outperformed 91.19% 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) | 66.19 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.28 | NEGATIVE | The MACD value suggests CMC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 58.09 | NEUTRAL | The Stochastics value for CMC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.32 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 41.18 | POSITIVE | The high ADX value value for CMC suggests a strong trend. |
71.79
+2.57 (+3.71%)
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 66.1877. 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 -0.282458, 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 70.34 and a resistance level at 71.8. Check the full technical report for our detailed analysis of CMC support and resistance levels.