CNM Technical Analysis - CORE & MAIN INC-CLASS A

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to CNM. CNM scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, CNM is a bad performer in the overall market: 67% of all stocks are doing better.

CNM is part of the Trading Companies & Distributors industry. There are 49 other stocks in this industry, of which 60% are performing better than CNM.

In the last month CNM has a been trading in the 48.95 - 54.45 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

CNM has an average volume of 2813140 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

CNM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CNM is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CORE & MAIN INC-CLASS A / CNM Weekly stock chart

CORE & MAIN INC-CLASS A / CNM Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, CNM does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 49.67, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

47.67

66.43

2 important support areas can be observed.

A support zone ranging from 49.55 to 49.67. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 48.15 to 48.66. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 2 important areas.

Resistance @53.84 from a horizontal line in the daily time frame.
Resistance @65.77 from a horizontal line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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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 CNM is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for CNM is down.
ChartMill Relative Strength	33.15	NEUTRAL	CNM is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of CNM is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of CNM is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of CNM is below the rising SMA(200).
Relative Strength Index/RSI (14)	46.12	NEUTRAL	The RSI value for CNM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.41	POSITIVE	The MACD value suggests CNM has a positive trend.
Stochastics (14,3)	53.64	NEUTRAL	The Stochastics value for CNM is a neutral value.
Average True Range in percent/ATR (20)	2.98	MEDIUM VOLATILITY	The ATR as a percentage value for CNM suggests some volalility.
Average Directional Index/ADX (14)	31.5	POSITIVE	The high ADX value value for CNM suggests a strong trend.