FOMENTO ECONOMICO MEX-SP ADR (FMX)       77.01  +0.63 (+0.82%)

77.01  +0.63 (+0.82%)

US3444191064 - ADR - After market: 77.01 0 (0%)

Technical Rating

8

Overall FMX gets a technical rating of 8 out of 10. Although FMX is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.



The long and short term trends are both positive. This is looking good!
FMX is part of the Beverages industry. There are 40 other stocks in this industry. FMX outperforms 90% of them.
FMX is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so FMX slightly outperforms the market at the moment.
FMX is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
When comparing the yearly performance of all stocks, we notice that FMX is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this relatively good performance is mostly due to a recent big move.

Statistics

1 Month 3 Months 6 Months 12 Months 1.91% 16.10% 8.66% 8.48% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 91.62 58.73 - 84.33
FMX Weekly chart
FMX Daily chart

Support/Resistance Analysis


58.49

89.41
We found 3 important support areas.
  • A support zone ranging from 76.38 to 77.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @64.57 from a trend line in the weekly time frame.
  • Support @59.08 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
  • A resistance zone ranging from 78.13 to 80.09. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • Resistance @88.52 from a horizontal line in the weekly time frame.

Setup Analysis

Setup Rating

6

FMX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.


Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
78.5276.372.15 (2.74%)25.00%
An entry @78.52. This is a Buy Stop order right above the 10 day moving average.An exit @76.37. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 2.15 points, which is 2.74%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.69%.

  • The distance between exit and entry is rather small compared to the average daily movement of FMX. 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.
FMX Daily chart

FOMENTO ECONOMICO MEX-SP ADR77.01

NYSE:FMX (12/7/2022, 7:04:00 PM)+0.63 (+0.82%)

After market: 77.01 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Consumer Staples
GICS Industry Beverages
Performance
Today 0.82% 1 Week -3.58%
2 Weeks -2.51% 1 Month 1.91%
3 Month 16.1% 6 Month 8.66%
Volatility
ATR(14) 1.63 ATR(20)% 2.14%
ATR Inc -24.93% Range Today 0.94
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 91.62 Mansfield 1.18
10 Day High 80.53 10 Day Low 75.91
20 Day High 80.53 20 Day Low 74.53
52 Week High 84.33 52 Week Low 58.73
CS1 End 77 CR1 Start 78.13
Volume & EV
DER(3) -0.96% DER(5) -1.04%
Volume 341.20K Volume Incr 8.52%
Vol(5) 628.25K Vol(50) 666.51K

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