CONMED CORP (CNMD) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
We assign a technical rating of 1 out of 10 to CNMD. CNMD's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- 88% of all other stocks performed better in the past year than CNMD.
- CNMD is part of the Health Care Equipment & Supplies industry. There are 184 other stocks in this industry, of which 61% are performing better than CNMD.
- CNMD is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month CNMD has a been trading in the 39.60 - 45.69 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.
Although the technical rating is bad, CNMD does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. We notice that large players showed an interest for CNMD in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
38.59
When analyzing the support we notice one important area.
- Support @38.98 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 41.75 to 41.91. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 42.65 to 42.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 43.69 to 44.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 48.76 to 48.77. 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 | DOWN | NEGATIVE | The long term trend for CNMD is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CNMD is neutral. |
| ChartMill Relative Strength | 12.14 | NEGATIVE | CNMD has a low relative strength, it was outperformed by 87.86% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CNMD is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CNMD is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CNMD is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.1 | NEUTRAL | The RSI value for CNMD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests CNMD has a negative trend. |
| Stochastics (14,3) | 35.85 | NEUTRAL | The Stochastics value for CNMD is a neutral value. |
| Average True Range in percent/ATR (20) | 3.99 | MEDIUM VOLATILITY | The ATR as a percentage value for CNMD suggests some volalility. |
| Average Directional Index/ADX (14) | 11.98 | NEGATIVE | The low ADX value for CNMD suggests a weak or negative trend. |
41.63
-0.53 (-1.26%)
CONMED CORP / CNMD FAQ
What is the ChartMill technical rating of CONMED CORP (CNMD) stock?
ChartMill assigns a technical rating of 1 / 10 to CNMD.
Can you provide the trend direction for CONMED CORP?
The current trend direction for CONMED CORP (CNMD) is Bearish.
What is the RSI signal for CONMED CORP (CNMD) stock?
CONMED CORP (CNMD) has an RSI value of 49.1024. This indicates that the stock is currently neutral.
What is the MACD signal for CNMD stock?
The MACD indicator for CONMED CORP (CNMD) has a value of -0.00517997, indicating a bearish trend.
What are the support and resistance levels for CONMED CORP (CNMD) stock?
CONMED CORP (CNMD) has a support level at 38.98 and a resistance level at 41.75. Check the full technical report for our detailed analysis of CNMD support and resistance levels.