MEG ENERGY CORP (MEG.CA) Stock Technical Analysis
TSX:MEG - Toronto Stock Exchange - CA5527041084 - Common Stock - Currency: CAD
Taking everything into account, MEG scores 8 out of 10 in our technical rating. Although MEG is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
MEG is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so MEG is performing more or less in line with the market.
In the last month MEG has a been trading in the 23.78 - 27.04 range, which is quite wide. It is currently trading near the high of this range.
MEG has an average volume of 1792400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, MEG outperforms 42% of them, which is more or less in line with the market.
MEG is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 50% of 214 stocks in the same industry.
MEG has an excellent technical rating, but the quality of the setup is only medium 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
23.78
27.28
2 important support areas can be observed.
- A support zone ranging from 25.08 to 25.47. 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 24.02 to 24.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 27.01 to 27.01. 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 MEG.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEG.CA is up. |
| ChartMill Relative Strength | 42.48 | 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) | 73.32 | OVERBOUGHT | The high RSI value suggests MEG.CA may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests MEG.CA has a positive trend. |
| Stochastics (14,3) | 88.67 | OVERBOUGHT | The high Stochastics value suggests MEG.CA may be overbought. |
| Average True Range in percent/ATR (20) | 2.41 | MEDIUM VOLATILITY | The ATR as a percentage value for MEG.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 36.31 | 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)
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 |
|---|---|---|---|
| 27.02 | 24.98 | 2.04 (7.55%) | 13.25% |
| An entry @27.02. This is a Buy Stop order right above the resistance zone. | An exit @24.98. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.04 points, which is 7.55%. | For a 1.00% total portfolio risk, you can invest 13.25% 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.
TSX:MEG (6/20/2025, 7:00:00 PM)
27
+0.37 (+1.39%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg1.39%
1 Week3.49%
2 Weeks6.26%
1 Month9.27%
3 Month8.65%
6 Month21.73%
12 Month-3.54%
2 Year28.57%
3 Year51.52%
5 Year616.18%
10 Year32.35%
15 YearN/A
Volatility
ATR(14)0.68
ATR(20)%2.41%
ATR Inc-15.27%
Range Today0.9
ADR(20)0.64
ADR(20)%2.36%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS42.48
Mansfield0.52
10 Day High27.04
10 Day Low24.99
20 Day High27.04
20 Day Low23.78
52 Week High29.94
52 Week Low17
CS1 End25.47
CR1 Start27.01
Volume & EV
DER(3)5.31%
DER(5)3.25%
Volume1.41M
Volume Incr-40.78%
Vol(5)1.17M
Vol(50)1.79M