MEG ENERGY CORP (MEG.CA)
CA5527041084 - Common Stock
Overall MEG gets a technical rating of 8 out of 10. In the last year, MEG was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month MEG has a been trading in the 30.17 - 33.70 range, which is quite wide. It is currently trading near the lows of this range.
Looking at the yearly performance, MEG did better than 91% of all other stocks. On top of that, MEG also shows a nice and consistent pattern of rising prices.
MEG is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 89% of 220 stocks in the same industry.
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.
MEG has an average volume of 1674840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
MEG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 30.20, a Stop Loss order could be placed below this zone.
More info and screens
22.44
31.08
When analyzing the support we can see 5 important areas.
- A support zone ranging from 29.86 to 30.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @25.30 from a trend line in the weekly time frame.
- A support zone ranging from 24.38 to 24.62. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @23.15 from a horizontal line in the weekly time frame.
- Support @22.67 from a horizontal line in the daily time frame.
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.3
Mansfield0.94
10 Day High32.53
10 Day Low30.17
20 Day High33.7
20 Day Low30.17
52 Week High33.7
52 Week Low19.41
Performance
1 Week-4.5%
2 Weeks-1.25%
1 Month-7.49%
3 Month27.36%
6 Month14.51%
12 Month47.86%
2 Year39.42%
3 Year266.75%
5 Year605.73%
10 Year-18.68%
15 YearN/A
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)
Technical Indicators
MACD(12,26,9)-0.26
RSI(14)45.9
LBB30.23
UBB32.73
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 |
|---|---|---|---|
| 31.47 | 30.16 | 1.31 (4.17%) | 23.99% |
| An entry @31.47. This is a Buy Stop order right above the 10 day moving average. | An exit @30.16. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.31 points, which is 4.17%. | When investing 23.99% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
MEG ENERGY CORP
TSX:MEG (5/3/2024, 6:00:00 PM)
30.77
-0.03 (-0.1%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg-0.1%
1 Week-4.5%
2 Weeks-1.25%
1 Month-7.49%
3 Month27.36%
6 Month14.51%
12 Month47.86%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)0.83
ATR(20)%2.81%
ATR Inc
Range Today0.63
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High32.53
10 Day Low30.17
20 Day High33.7
20 Day Low30.17
52 Week High33.7
52 Week Low19.41
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume2.24M
Volume Incr1.48%
Vol(5)1.48M
Vol(50)1.67M