COMMERCIAL METALS CO (CMC) Stock Technical Analysis
NYSE:CMC - New York Stock Exchange, Inc. - US2017231034 - Common Stock - Currency: USD
We assign a technical rating of 8 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 is one of the lesser performing stocks in the Metals & Mining industry. 66% of 157 stocks in the same industry do better.
The long and short term trends are both positive. This is looking good!
CMC has an average volume of 1021430 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, CMC turns out to be only a medium performer in the overall market: it outperformed 48% of all stocks.
CMC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CMC is lagging the market.
In the last month CMC has a been trading in the 48.14 - 54.53 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
CMC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 52.54, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
39.94
53.86
When analyzing the support we can see 3 important areas.
- A support zone ranging from 51.99 to 52.54. 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 48.82. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @40.34 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- Resistance @53.33 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 | UP | POSITIVE | The short term trend for CMC is up. |
| ChartMill Relative Strength | 48.27 | 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) | 58.62 | NEUTRAL | The RSI value for CMC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CMC has a negative trend. |
| Stochastics (14,3) | 66.75 | NEUTRAL | The Stochastics value for CMC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.45 | MEDIUM VOLATILITY | The ATR as a percentage value for CMC suggests some volalility. |
| Average Directional Index/ADX (14) | 15.4 | NEGATIVE | The low ADX value for CMC suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 53.34 | 51.98 | 1.36 (2.55%) | 25.00% |
| An entry @53.34. This is a Buy Stop order right above the resistance zone. | An exit @51.98. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.36 points, which is 2.55%. | For a 0.64% 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.
53.32
+1.41 (+2.72%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg2.72%
1 Week1.21%
2 Weeks2.32%
1 Month6.45%
3 Month20.74%
6 Month6.83%
12 Month-11.65%
2 Year-6.82%
3 Year34.58%
5 Year157.83%
10 Year246.01%
15 Year270.54%
Volatility
ATR(14)1.29
ATR(20)%2.45%
ATR Inc95%
Range Today1.95
ADR(20)1.25
ADR(20)%2.34%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS48.27
Mansfield-0.47
10 Day High54.54
10 Day Low50.38
20 Day High54.54
20 Day Low48.14
52 Week High64.53
52 Week Low37.92
CS1 End52.54
CR1 Start53.33
Volume & EV
DER(3)-1.57%
DER(5)-1.92%
Volume943.20K
Volume Incr-19.52%
Vol(5)934.52K
Vol(50)1.02M