MEI Technical Analysis - METHODE ELECTRONICS INC

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to MEI. MEI has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.

90% of all other stocks performed better in the past year than MEI.

MEI is part of the Electronic Equipment, Instruments & Components industry. There are 125 other stocks in this industry, of which 80% are performing better than MEI.

MEI is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

MEI is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

METHODE ELECTRONICS INC / MEI Weekly stock chart

METHODE ELECTRONICS INC / MEI Daily stock chart

Setup Rating and Analysis

MEI has an average technical rating and also the quality of the setup is only medium at the moment. Prices have been consolidating lately and the volatility has been reduced.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

6.40

9.22

5 important support areas can be observed.

Support @8.07 from a trend line in the daily time frame.
Support @7.41 from a trend line in the daily time frame.
A support zone ranging from 7.01 to 7.11. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @6.63 from a trend line in the weekly time frame.
Support @6.46 from a trend line in the daily time frame.

We can see 4 important resistance areas.

A resistance zone ranging from 8.14 to 8.15. This zone is formed by a combination of multiple trend lines in the weekly time frame.
Resistance @8.31 from a horizontal line in the daily time frame.
Resistance @8.54 from a trend line in the weekly time frame.
Resistance @9.13 from a trend line in the daily time frame.

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What is Support and Resistance

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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	NEUTRAL	NEUTRAL	The long term trend for MEI is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MEI is up.
ChartMill Relative Strength	10	NEGATIVE	MEI has a low relative strength, it was outperformed by 90% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MEI is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of MEI is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MEI is below a declining SMA(200).
Relative Strength Index/RSI (14)	61.56	NEUTRAL	The RSI value for MEI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.06	POSITIVE	The MACD value suggests MEI has a positive trend, although the MACD value is declining.
Stochastics (14,3)	68.96	NEUTRAL	The Stochastics value for MEI is a neutral value.
Average True Range in percent/ATR (20)	4.86	MEDIUM VOLATILITY	The ATR as a percentage value for MEI suggests some volalility.
Average Directional Index/ADX (14)	22.69	NEUTRAL	The ADX value for MEI suggests a possible start of a new trend.