MERCURY GENERAL CORP (MCY) Stock Technical Analysis
NYSE:MCY - New York Stock Exchange, Inc. - US5894001008 - Common Stock - Currency: USD
Overall MCY gets a technical rating of 8 out of 10. In the last year, MCY was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
Besides having an excellent technical rating, MCY also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 61.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 59.76, a Stop Loss order could be placed below this zone.
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47.21
When analyzing the support we can see 4 important areas.
- A support zone ranging from 59.14 to 59.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @52.23 from a trend line in the weekly time frame.
- A support zone ranging from 49.35 to 50.10. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @47.69 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 61.16 to 62.24. This zone is formed by a combination of multiple trend lines and important moving averages 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 MCY is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MCY is up. |
| ChartMill Relative Strength | 81.54 | POSITIVE | MCY has a high relative strength, it outperformed 81.54% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MCY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MCY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MCY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.72 | NEUTRAL | The RSI value for MCY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests MCY has a negative trend. |
| Stochastics (14,3) | 71.16 | NEUTRAL | The Stochastics value for MCY is a neutral value. |
| Average True Range in percent/ATR (20) | 3.08 | MEDIUM VOLATILITY | The ATR as a percentage value for MCY suggests some volalility. |
| Average Directional Index/ADX (14) | 16.91 | NEGATIVE | The low ADX value for MCY suggests a weak or negative 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 |
|---|---|---|---|
| 62.25 | 59.13 | 3.12 (5.01%) | 19.95% |
| An entry @62.25. This is a Buy Stop order right above the resistance zone. | An exit @59.13. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.12 points, which is 5.01%. | For a 1.00% total portfolio risk, you can invest 19.95% of your capital in this trade. |
- 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.
59.77
-0.14 (-0.23%)