MEG ENERGY CORP (MEG.CA) Stock Technical Analysis
Canada - TSX:MEG - CA5527041084 - Common Stock
29.39 CAD
+0.31 (+1.07%)
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.
The long and short term trends are both positive. This is looking good!
MEG is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
MEG has an average volume of 1735200 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, MEG turns out to be only a medium performer in the overall market: it outperformed 53% of all stocks.
MEG is part of the Oil, Gas & Consumable Fuels industry. There are 207 other stocks in this industry, MEG did better than 66% of them.
In the last month MEG has a been trading in the 27.85 - 30.78 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 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 support zone below the current price at 29.22, a Stop Loss order could be placed below this zone.
More info and screens
25.02
30.10
4 important support areas can be observed.
- A support zone ranging from 28.98 to 29.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 28.01 to 28.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @27.39 from a trend line in the daily time frame.
- A support zone ranging from 25.27 to 25.64. This zone is formed by a combination of multiple trend lines in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 29.52 to 29.80. 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 | UP | POSITIVE | The short term trend for MEG.CA is up. |
| ChartMill Relative Strength | 53.42 | 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) | 56.48 | NEUTRAL | The RSI value for MEG.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MEG.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 43.51 | NEUTRAL | The Stochastics value for MEG.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.77 | LOW VOLATILITY | The low ATR as a percentage value for MEG.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 21.28 | NEUTRAL | The ADX value for MEG.CA suggests a possible start of a new 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 |
|---|---|---|---|
| 29.81 | 28.97 | 0.84 (2.82%) | 25.00% |
| An entry @29.81. This is a Buy Stop order right above the resistance zone. | An exit @28.97. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.84 points, which is 2.82%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.70%. |
- 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 (10/23/2025, 7:00:00 PM)
29.39
+0.31 (+1.07%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg1.07%
1 Week0.58%
2 Weeks-2.2%
1 Month3.01%
3 Month8.33%
6 Month43.65%
12 Month12.73%
2 Year7.26%
3 Year44.28%
5 Year1109.47%
10 Year170.13%
15 Year-21.29%
Volatility
ATR(14)0.59
ATR(20)%1.77%
ATR Inc-18.27%
Range Today0.45
ADR(20)0.48
ADR(20)%1.64%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS53.42
3 months CRS61.39
6 months CRS76.71
Mansfield0.58
10 Day High30.78
10 Day Low28.7
20 Day High30.78
20 Day Low27.85
52 Week High30.78
52 Week Low17
CS1 End29.22
CR1 Start29.52
Volume & EV
DER(3)-2.28%
DER(5)-4.52%
Volume2.49M
Volume Incr-35.22%
Vol(5)1.31M
Vol(50)1.74M