MONTROSE ENVIRONMENTAL GROUP (MEG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MEG - US6151111019 - Common Stock
We assign a technical rating of 0 out of 10 to MEG. MEG's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- 84% of all other stocks performed better in the past year than MEG.
- MEG is part of the Commercial Services & Supplies industry. There are 80 other stocks in this industry, of which 63% are performing better than MEG.
- In the last month MEG has a been trading in the 20.95 - 26.94 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
- MEG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MEG is lagging the market.
The technical rating of MEG is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
20.91
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 23.61 to 23.62. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 24.87 to 25.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @26.27 from a horizontal line in the daily time frame.
- Resistance @27.23 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 | NEUTRAL | NEUTRAL | The long term trend for MEG is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MEG is down. |
| ChartMill Relative Strength | 16.47 | NEGATIVE | MEG has a low relative strength, it was outperformed by 83.53% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MEG is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MEG is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of MEG is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 28.61 | OVERSOLD | The low RSI value suggests MEG may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.48 | NEGATIVE | The MACD value suggests MEG has a negative trend. |
| Stochastics (14,3) | 8.28 | OVERSOLD | The low Stochastics value suggests MEG may be oversold. |
| Average True Range in percent/ATR (20) | 4.93 | MEDIUM VOLATILITY | The ATR as a percentage value for MEG suggests some volalility. |
| Average Directional Index/ADX (14) | 18.2 | NEGATIVE | The low ADX value for MEG suggests a weak or negative trend. |
21.12
-0.71 (-3.25%)
MONTROSE ENVIRONMENTAL GROUP / MEG FAQ
What is the technical rating for MEG stock?
ChartMill assigns a technical rating of 0 / 10 to MEG.
Can you provide the trend direction for MONTROSE ENVIRONMENTAL GROUP?
The current trend direction for MONTROSE ENVIRONMENTAL GROUP (MEG) is Bearish.
What is the RSI signal for MEG stock?
MONTROSE ENVIRONMENTAL GROUP (MEG) has an RSI value of 28.6066. This indicates that the stock is currently oversold.
What is the MACD signal for MONTROSE ENVIRONMENTAL GROUP (MEG) stock?
The MACD indicator for MONTROSE ENVIRONMENTAL GROUP (MEG) has a value of -0.475662, indicating a bearish trend.
What is the short term momentum for MONTROSE ENVIRONMENTAL GROUP (MEG) stock?
The short term momentum for MONTROSE ENVIRONMENTAL GROUP (MEG) is negative.