MAYVILLE ENGINEERING CO INC (MEC) Stock Technical Analysis
NYSE:MEC - New York Stock Exchange, Inc. - US5786051079 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to MEC. Although MEC 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!
MEC 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.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
When comparing the performance of all stocks over the past year, MEC turns out to be only a medium performer in the overall market: it outperformed 57% of all stocks.
MEC is part of the Machinery industry. There are 128 other stocks in this industry, MEC did better than 47% of them.
MEC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MEC is lagging the market.
Besides having an excellent technical rating, MEC 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. There is a support zone below the current price at 15.97, a Stop Loss order could be placed below this zone.
More info and screens
12.37
17.16
When analyzing the support we can see 3 important areas.
- A support zone ranging from 15.76 to 15.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 14.58 to 14.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @12.49 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 16.35 to 16.37. 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 16.65 to 16.99. 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 MEC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEC is up. |
| ChartMill Relative Strength | 57.07 | NEUTRAL | MEC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MEC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MEC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MEC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.39 | NEUTRAL | The RSI value for MEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests MEC has a negative trend. |
| Stochastics (14,3) | 55.07 | NEUTRAL | The Stochastics value for MEC is a neutral value. |
| Average True Range in percent/ATR (20) | 4.08 | MEDIUM VOLATILITY | The ATR as a percentage value for MEC suggests some volalility. |
| Average Directional Index/ADX (14) | 20.83 | NEUTRAL | The ADX value for MEC suggests a possible start of a new trend. |
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)
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 |
|---|---|---|---|
| 16.38 | 15.75 | 0.63 (3.85%) | 25.00% |
| An entry @16.38. This is a Buy Stop order right above the resistance zone. | An exit @15.75. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.63 points, which is 3.85%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.96%. |
- The distance between exit and entry is rather small compared to the average daily movement of MEC. 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.
16.18
-0.32 (-1.94%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMachinery
Performance
% Chg-1.94%
1 Week-3.69%
2 Weeks2.34%
1 Month8.59%
3 Month27.1%
6 Month10.22%
12 Month-7.17%
2 Year33.83%
3 Year126.61%
5 Year113.18%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.64
ATR(20)%4.08%
ATR Inc-35.75%
Range Today0.34
ADR(20)0.63
ADR(20)%3.91%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS57.07
Mansfield-0.99
10 Day High17.15
10 Day Low15.42
20 Day High17.15
20 Day Low14.31
52 Week High23.02
52 Week Low11.72
CS1 End15.97
CR1 Start16.35
Volume & EV
DER(3)-3.14%
DER(5)-4%
Volume71.30K
Volume Incr-48.39%
Vol(5)70.70K
Vol(50)121.27K