MAYVILLE ENGINEERING CO INC (MEC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MEC - US5786051079 - Common Stock
Overall MEC gets a technical rating of 9 out of 10. Both in the recent history as in the last year, MEC has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Both the short term and long term trends are positive. This is a very positive sign.
- MEC is one of the better performing stocks in the Machinery industry, it outperforms 83% of 132 stocks in the same industry.
- MEC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MEC is lagging the market slightly.
- In the last month MEC has a been trading in the 17.28 - 19.82 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- When comparing the yearly performance of all stocks, we notice that MEC is one of the better performing stocks in the market, outperforming 88% of all stocks. However, this relatively good performance is mostly due to a recent big move.
MEC 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. There is a resistance zone just above the current price starting at 18.99. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 18.65, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MEC in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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12.13
We found 4 important support areas.
- A support zone ranging from 18.31 to 18.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 17.41 to 17.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @12.92 from a trend line in the daily time frame.
- Support @12.25 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 18.99 to 19.11. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Resistance @19.75 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 | 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 | 88.29 | POSITIVE | MEC has a high relative strength, it outperformed 88.29% off all stocks 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) | UP | POSITIVE | The current price of MEC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 53.28 | NEUTRAL | The RSI value for MEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests MEC has a negative trend. |
| Stochastics (14,3) | 63.91 | NEUTRAL | The Stochastics value for MEC is a neutral value. |
| Average True Range in percent/ATR (20) | 4.6 | MEDIUM VOLATILITY | The ATR as a percentage value for MEC suggests some volalility. |
| Average Directional Index/ADX (14) | 18.35 | NEGATIVE | The low ADX value for MEC 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 |
|---|---|---|---|
| 19.12 | 18.30 | 0.82 (4.29%) | 23.32% |
| An entry @19.12. This is a Buy Stop order right above the resistance zone. | An exit @18.30. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.82 points, which is 4.29%. | When investing 23.32% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
18.66
-0.31 (-1.63%)
MAYVILLE ENGINEERING CO INC / MEC FAQ
What is the ChartMill technical rating of MAYVILLE ENGINEERING CO INC (MEC) stock?
ChartMill assigns a technical rating of 9 / 10 to MEC.
What is the trend direction for MEC stock?
The current trend direction for MAYVILLE ENGINEERING CO INC (MEC) is Bullish.
What is the RSI signal for MAYVILLE ENGINEERING CO INC (MEC) stock?
MAYVILLE ENGINEERING CO INC (MEC) has an RSI value of 53.2776. This indicates that the stock is currently neutral.
What is the MACD signal for MAYVILLE ENGINEERING CO INC (MEC) stock?
The MACD indicator for MAYVILLE ENGINEERING CO INC (MEC) has a value of -0.0492218, indicating a bearish trend.
What is the support and resistance level for MEC stock?
MAYVILLE ENGINEERING CO INC (MEC) has a support level at 18.65 and a resistance level at 18.99. Check the full technical report for our detailed analysis of MEC support and resistance levels.