MONTROSE ENVIRONMENTAL GROUP (MEG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MEG - US6151111019 - Common Stock
We assign a technical rating of 5 out of 10 to MEG. MEG was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
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. There is a support zone below the current price at 26.00, a Stop Loss order could be placed below this zone.
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23.38
4 important support areas can be observed.
- A support zone ranging from 25.68 to 26.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 24.91 to 24.96. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @24.33 from a horizontal line in the weekly time frame.
- A support zone ranging from 23.62 to 23.76. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 26.12 to 26.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 27.23 to 27.70. This zone is formed by a combination of multiple trend lines 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 | UP | POSITIVE | The long term trend for MEG is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MEG is neutral. |
| ChartMill Relative Strength | 84.72 | POSITIVE | MEG has a high relative strength, it outperformed 84.72% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MEG is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MEG is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MEG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.99 | NEUTRAL | The RSI value for MEG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MEG has a negative trend. |
| Stochastics (14,3) | 42.46 | NEUTRAL | The Stochastics value for MEG is a neutral value. |
| Average True Range in percent/ATR (20) | 3.44 | MEDIUM VOLATILITY | The ATR as a percentage value for MEG suggests some volalility. |
| Average Directional Index/ADX (14) | 14.59 | NEGATIVE | The low ADX value for MEG suggests a weak or negative trend. |
26.04
-0.23 (-0.88%)
MONTROSE ENVIRONMENTAL GROUP / MEG FAQ
What is the technical rating for MEG stock?
ChartMill assigns a technical rating of 5 / 10 to MEG.
What is the current trend direction of MONTROSE ENVIRONMENTAL GROUP (MEG) stock?
The current trend direction for MONTROSE ENVIRONMENTAL GROUP (MEG) is Bullish.
What is the RSI signal for MEG stock?
MONTROSE ENVIRONMENTAL GROUP (MEG) has an RSI value of 49.9864. This indicates that the stock is currently neutral.
What are the support and resistance levels for MONTROSE ENVIRONMENTAL GROUP (MEG) stock?
MONTROSE ENVIRONMENTAL GROUP (MEG) has a support level at 26 and a resistance level at 26.12. Check the full technical report for our detailed analysis of MEG support and resistance levels.