MEG ENERGY CORP (MEG.CA) Stock Technical Analysis
Canada - TSX:MEG - CA5527041084 - Common Stock
We assign a technical rating of 8 out of 10 to MEG. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MEG is only an average performer.
Besides having an excellent technical rating, MEG also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 29.45, a Stop Loss order could be placed below this zone.
More info and screens
25.02
We found 3 important support areas.
- A support zone ranging from 29.34 to 29.45. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 27.62 to 28.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @25.27 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- Resistance @29.83 from a horizontal line in the weekly time frame.
- Resistance @30.50 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 MEG.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEG.CA is up. |
| ChartMill Relative Strength | 61.14 | 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) | UP | POSITIVE | The current price of MEG.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.82 | NEUTRAL | The RSI value for MEG.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests MEG.CA has a positive trend. |
| Stochastics (14,3) | 62.8 | NEUTRAL | The Stochastics value for MEG.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 2 | LOW VOLATILITY | The low ATR as a percentage value for MEG.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 17.78 | NEGATIVE | The low ADX value for MEG.CA 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 |
|---|---|---|---|
| 29.84 | 29.33 | 0.51 (1.71%) | 25.00% |
| An entry @29.84. This is a Buy Stop order right above the resistance zone. | An exit @29.33. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.51 points, which is 1.71%. | For a 0.43% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MEG. 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.
TSX:MEG (11/3/2025, 7:00:00 PM)
29.82
+0.14 (+0.47%)
MEG ENERGY CORP / MEG.CA FAQ
What is the technical rating for MEG stock?
ChartMill assigns a technical rating of 8 / 10 to MEG.CA.
What is the current trend direction of MEG ENERGY CORP (MEG.CA) stock?
The current trend direction for MEG ENERGY CORP (MEG.CA) is Bullish.
What is the RSI signal for MEG stock?
MEG ENERGY CORP (MEG.CA) has an RSI value of 57.8165. This indicates that the stock is currently neutral.
What is the buy/sell signal for MEG ENERGY CORP (MEG.CA) stock?
The buy/sell signal for MEG ENERGY CORP (MEG.CA) is buy as both the short term and long term trends are positive.
What is the support and resistance level for MEG stock?
MEG ENERGY CORP (MEG.CA) has a support level at 29.45 and a resistance level at 29.83. Check the full technical report for our detailed analysis of MEG.CA support and resistance levels.