MONTROSE ENVIRONMENTAL GROUP (MEG) Stock Technical Analysis
USA - NYSE:MEG - US6151111019 - Common Stock
Overall MEG gets a technical rating of 1 out of 10. MEG has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
The technical rating of MEG is bad and it also does not present a quality setup 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.
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22.36
When analyzing the support we can see 2 important areas.
- Support @24.20 from a horizontal line in the daily time frame.
- Support @22.59 from a trend line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 25.92 to 25.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 27.67 to 28.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @28.93 from a trend line in the daily time frame.
- Resistance @30.65 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 | 70.66 | POSITIVE | MEG has a high relative strength, it outperformed 70.66% 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 | POSITIVE | The current price of MEG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 42.1 | NEUTRAL | The RSI value for MEG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.17 | NEGATIVE | The MACD value suggests MEG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 14.66 | OVERSOLD | The low Stochastics value suggests MEG may be oversold. |
| Average True Range in percent/ATR (20) | 4.92 | MEDIUM VOLATILITY | The ATR as a percentage value for MEG suggests some volalility. |
| Average Directional Index/ADX (14) | 12.13 | NEGATIVE | The low ADX value for MEG suggests a weak or negative trend. |
25.05
+0.85 (+3.51%)
MONTROSE ENVIRONMENTAL GROUP / MEG FAQ
What is the technical rating for MEG stock?
ChartMill assigns a technical rating of 1 / 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 Bearish.
What is the RSI signal for MEG stock?
MONTROSE ENVIRONMENTAL GROUP (MEG) has an RSI value of 42.1023. 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 24.2 and a resistance level at 25.92. Check the full technical report for our detailed analysis of MEG support and resistance levels.