MEG ENERGY CORP (MEG.CA) Stock Technical Analysis
TSX:MEG - Toronto Stock Exchange - CA5527041084 - Common Stock - Currency: CAD
Overall MEG gets a technical rating of 6 out of 10. MEG has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
When comparing the yearly performance of all stocks, MEG is a bad performer in the overall market: 69% of all stocks are doing better.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
MEG has an average volume of 2255630 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
MEG is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 54% of 208 stocks in the same industry.
MEG is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MEG is lagging the market slightly.
In the last month MEG has a been trading in the 18.99 - 28.64 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
MEG has an average technical rating and it also does not offer a high 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
24.46
25.66
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 25.08 to 25.41. 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 | NEUTRAL | NEUTRAL | The long term trend for MEG.CA is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEG.CA is up. |
| ChartMill Relative Strength | 31.94 | NEUTRAL | MEG.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MEG.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MEG.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MEG.CA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 66.15 | NEUTRAL | The RSI value for MEG.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.55 | POSITIVE | The MACD value suggests MEG.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 58.31 | NEUTRAL | The Stochastics value for MEG.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 4.45 | MEDIUM VOLATILITY | The ATR as a percentage value for MEG.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 34.26 | POSITIVE | The high ADX value value for MEG.CA suggests a strong 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)
TSX:MEG (5/23/2025, 7:00:00 PM)
24.71
+0.08 (+0.32%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg0.32%
1 Week16.01%
2 Weeks18.74%
1 Month19.6%
3 Month9.05%
6 Month-7.28%
12 Month-16.29%
2 Year20.48%
3 Year11.96%
5 Year672.19%
10 Year23.55%
15 YearN/A
Volatility
ATR(14)1.3
ATR(20)%4.45%
ATR Inc-52.69%
Range Today0.56
ADR(20)0.87
ADR(20)%3.54%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS31.94
Mansfield-0.3
10 Day High28.64
10 Day Low20.7
20 Day High28.64
20 Day Low18.99
52 Week High30.54
52 Week Low17
CS1 EndN/A
CR1 Start25.08
Volume & EV
DER(3)-0.2%
DER(5)-1.36%
Volume1.38M
Volume Incr129.19%
Vol(5)3.86M
Vol(50)2.26M