MONTROSE ENVIRONMENTAL GROUP (MEG) Technical Analysis
NYSE:MEG • US6151111019
Current stock price
MEG Technical Rating and Analysis
Taking everything into account, MEG scores 3 out of 10 in our technical rating. Although MEG is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- In the last month MEG has a been trading in the 20.83 - 27.66 range, which is quite wide. It is currently trading near the lows of this range.
- MEG is one of the better performing stocks in the Commercial Services & Supplies industry, it outperforms 90% of 81 stocks in the same industry.
- When comparing the yearly performance of all stocks, we notice that MEG is one of the better performing stocks in the market, outperforming 87% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
- MEG is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MEG is lagging the market slightly.
MEG Weekly and Daily overview Charts
MEG Setup Rating and Analysis
MEG has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
MEG Support and Resistance Analysis
20.29
When analyzing the support we can see 2 important areas.
- Support @21.12 from a horizontal line in the daily time frame.
- A support zone ranging from 20.49 to 20.57. This zone is formed by a combination of multiple trend lines in multiple time frames.
7 important resistance areas can be observed.
- A resistance zone ranging from 22.80 to 22.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 23.54 to 23.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @24.96 from a horizontal line in the daily time frame.
- Resistance @27.23 from a horizontal line in the daily time frame.
- Resistance @28.17 from a trend line in the weekly time frame.
- A resistance zone ranging from 28.86 to 29.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @29.93 from a horizontal line in the daily time frame.
MEG Technical Indicator Signal Analysis
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 | DOWN | NEGATIVE | The long term trend for MEG is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MEG is down. |
| ChartMill Relative Strength | 87.2 | POSITIVE | MEG has a high relative strength, it outperformed 87.2% 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) | UP | MIXED | The current price of MEG is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MEG is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 46.31 | NEUTRAL | The RSI value for MEG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests MEG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.21 | NEUTRAL | The Stochastics value for MEG is a neutral value. |
| Average True Range in percent/ATR (20) | 5.35 | HIGH VOLATILITY | The high ATR as a percentage value for MEG suggests high volalility. |
| Average Directional Index/ADX (14) | 20.28 | NEUTRAL | The ADX value for MEG suggests a possible start of a new trend. |
MEG Chart- and CandleStick Pattern Analysis
MEG Technicals: Chart, Performance Metrics, Trend & Indicators
22.79
+0.42 (+1.88%)
MONTROSE ENVIRONMENTAL GROUP / MEG TA FAQ
What is the technical rating for MEG stock?
ChartMill assigns a technical rating of 3 / 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 MONTROSE ENVIRONMENTAL GROUP (MEG) stock?
MONTROSE ENVIRONMENTAL GROUP (MEG) has an RSI value of 46.3051. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MONTROSE ENVIRONMENTAL GROUP?
The MACD indicator for MONTROSE ENVIRONMENTAL GROUP (MEG) has a value of -0.101548, indicating a bearish trend.
What is the buy/sell signal for MEG stock?
The buy/sell signal for MONTROSE ENVIRONMENTAL GROUP (MEG) is sell as both the short term and long term trends are negative.