MEG ENERGY CORP (MEG.CA) Stock Technical Analysis
Canada - TSX:MEG - CA5527041084 - Common Stock
28.08 CAD
-0.15 (-0.53%)
We assign a technical rating of 6 out of 10 to MEG. In the last year, MEG was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
MEG 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 MEG is lagging the market slightly.
MEG has an average volume of 1283460 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 41% of them, which is more or less in line with the market.
MEG is part of the Oil, Gas & Consumable Fuels industry. There are 216 other stocks in this industry, MEG did better than 48% of them.
In the last month MEG has a been trading in a tight range between 28.01 and 29.50.
MEG has only a medium technical rating, but it does show 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 28.07, a Stop Loss order could be placed below this zone.
More info and screens
24.85
29.41
When analyzing the support we can see 4 important areas.
- A support zone ranging from 27.46 to 28.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @26.85 from a trend line in the daily time frame.
- Support @25.64 from a horizontal line in the daily time frame.
- Support @25.10 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 28.41 to 29.12. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The short term trend for MEG.CA is neutral. |
| ChartMill Relative Strength | 41.18 | NEUTRAL | MEG.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MEG.CA is below a declining 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) | 47.05 | NEUTRAL | The RSI value for MEG.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.13 | NEGATIVE | The MACD value suggests MEG.CA has a negative trend. |
| Stochastics (14,3) | 22.64 | NEUTRAL | The Stochastics value for MEG.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.6 | LOW VOLATILITY | The low ATR as a percentage value for MEG.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 26.75 | 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 |
|---|---|---|---|
| 28.42 | 28.00 | 0.42 (1.49%) | 25.00% |
| An entry @28.42. This is a Buy Stop order right above the 10 day moving average. | An exit @28.00. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.42 points, which is 1.49%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.37%. |
- 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 (9/30/2025, 7:00:00 PM)
28.08
-0.15 (-0.53%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg-0.53%
1 Week-0.78%
2 Weeks-3.17%
1 Month-2.5%
3 Month9.82%
6 Month40.75%
12 Month1.41%
2 Year6.24%
3 Year81.63%
5 Year913.72%
10 Year240.78%
15 Year-21.67%
Volatility
ATR(14)0.37
ATR(20)%1.6%
ATR Inc-6.35%
Range Today0.35
ADR(20)0.42
ADR(20)%1.49%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS41.18
Mansfield0.17
10 Day High29.01
10 Day Low28.01
20 Day High29.5
20 Day Low28.01
52 Week High29.5
52 Week Low17
CS1 End28.07
CR1 Start28.41
Volume & EV
DER(3)-0.71%
DER(5)-1.08%
Volume1.06M
Volume Incr-12.44%
Vol(5)1.27M
Vol(50)1.28M