CONTANGO OIL & GAS (MCF) Stock Technical Analysis
NYSEARCA:MCF - NYSE Arca - Common Stock
We assign a technical rating of 2 out of 10 to MCF. Although MCF is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
MCF is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MCF is lagging the market.
In the last month MCF has a been trading in the 2.97 - 4.37 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
MCF is part of the Oil, Gas & Consumable Fuels industry. There are 213 other stocks in this industry. MCF outperforms 90% of them.
MCF has an average volume of 1171680 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that MCF is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
The technical rating of MCF is bad and it also does not present a quality setup 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.
More info and screens
3.07
4.83
We found 2 important support areas.
- Support @3.16 from a horizontal line in the weekly time frame.
- Support @3.10 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 3.42 to 3.46. 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 3.76 to 3.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 4.10 to 4.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @4.78 from a horizontal line in the daily 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 | DOWN | NEGATIVE | The long term trend for MCF is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MCF is down. |
| ChartMill Relative Strength | 91.76 | POSITIVE | MCF has a high relative strength, it outperformed 91.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MCF is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MCF is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MCF is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 34.89 | NEUTRAL | The RSI value for MCF is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MCF has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 19.5 | OVERSOLD | The low Stochastics value suggests MCF may be oversold. |
| Average True Range in percent/ATR (20) | 7.55 | HIGH VOLATILITY | The high ATR as a percentage value for MCF suggests high volalility. |
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)
3.22
+0.11 (+3.54%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg3.54%
1 Week-7.47%
2 Weeks-7.47%
1 Month-24.59%
3 Month-10.56%
6 Month-28.92%
12 Month79.89%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.27
ATR(20)%7.55%
ATR Inc60.48%
Range Today0.22
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.76
Mansfield-2.52
10 Day High3.87
10 Day Low2.97
20 Day High4.37
20 Day Low2.97
52 Week High6.94
52 Week Low1.74
CS1 End3.16
CR1 Start3.42
Volume & EV
DER(3)5.99%
DER(5)1.2%
Volume3.62M
Volume Incr146.87%
Vol(5)2.69M
Vol(50)1.17M