FOMENTO ECONOMICO MEX-SP ADR (FMX) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:FMX - US3444191064 - ADR
We assign a technical rating of 10 out of 10 to FMX. Both in the recent history as in the last year, FMX has proven to be a steady performer, scoring decent points in every aspect analyzed.
Although FMX has an excellent technical rating, the quality of the presented setup is not ideal 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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86.52
We found 5 important support areas.
- A support zone ranging from 100.59 to 101.72. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 96.08 to 98.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @94.04 from a horizontal line in the weekly time frame.
- A support zone ranging from 92.13 to 92.13. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @87.39 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 107.06 to 107.84. 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 FMX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FMX is up. |
| ChartMill Relative Strength | 80.77 | POSITIVE | FMX has a high relative strength, it outperformed 80.77% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FMX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FMX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FMX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 69.15 | NEUTRAL | The RSI value for FMX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.66 | POSITIVE | The MACD value suggests FMX has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 88.1 | OVERBOUGHT | The high Stochastics value suggests FMX may be overbought. |
| Average True Range in percent/ATR (20) | 2.19 | MEDIUM VOLATILITY | The ATR as a percentage value for FMX suggests some volalility. |
| Average Directional Index/ADX (14) | 27.46 | POSITIVE | The high ADX value value for FMX suggests a strong trend. |
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 |
|---|---|---|---|
| 107.85 | 100.58 | 7.27 (6.74%) | 14.83% |
| An entry @107.85. This is a Buy Stop order right above the resistance zone. | An exit @100.58. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 7.27 points, which is 6.74%. | When investing 14.83% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
104.19
+1.6 (+1.56%)
FOMENTO ECONOMICO MEX-SP ADR / FMX FAQ
What is the technical rating for FMX stock?
ChartMill assigns a technical rating of 10 / 10 to FMX.
Can you provide the trend direction for FOMENTO ECONOMICO MEX-SP ADR?
The current trend direction for FOMENTO ECONOMICO MEX-SP ADR (FMX) is Bullish.
What is the RSI signal for FMX stock?
FOMENTO ECONOMICO MEX-SP ADR (FMX) has an RSI value of 69.1547. This indicates that the stock is currently neutral.
Can you provide the MACD signal for FOMENTO ECONOMICO MEX-SP ADR?
The MACD indicator for FOMENTO ECONOMICO MEX-SP ADR (FMX) has a value of 0.664348, indicating a bearish trend.
Can you provide the short term momentum for FOMENTO ECONOMICO MEX-SP ADR?
The short term momentum for FOMENTO ECONOMICO MEX-SP ADR (FMX) is positive.