METHODE ELECTRONICS INC (MEI) Stock Technical Analysis
USA - NYSE:MEI - US5915202007 - Common Stock
We assign a technical rating of 0 out of 10 to MEI. MEI scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, MEI does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 6.91. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for MEI in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
6.26
We found 2 important support areas.
- Support @6.53 from a trend line in the daily time frame.
- Support @6.32 from a horizontal line in the weekly time frame.
5 important resistance areas can be observed.
- A resistance zone ranging from 6.91 to 6.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 7.14 to 7.18. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 7.37 to 7.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @8.30 from a horizontal line in the daily time frame.
- Resistance @9.44 from a trend 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 | DOWN | NEGATIVE | The long term trend for MEI is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MEI is down. |
| ChartMill Relative Strength | 19.72 | NEGATIVE | MEI has a low relative strength, it was outperformed by 80.28% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MEI is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MEI is below 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) | 47.94 | NEUTRAL | The RSI value for MEI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests MEI has a positive trend. |
| Stochastics (14,3) | 37.38 | NEUTRAL | The Stochastics value for MEI is a neutral value. |
| Average True Range in percent/ATR (20) | 3.85 | MEDIUM VOLATILITY | The ATR as a percentage value for MEI suggests some volalility. |
| Average Directional Index/ADX (14) | 13.72 | NEGATIVE | The low ADX value for MEI suggests a weak or negative trend. |
6.9
+0.32 (+4.86%)
METHODE ELECTRONICS INC / MEI FAQ
Can you provide the ChartMill technical rating for METHODE ELECTRONICS INC?
ChartMill assigns a technical rating of 0 / 10 to MEI.
Can you provide the trend direction for METHODE ELECTRONICS INC?
The current trend direction for METHODE ELECTRONICS INC (MEI) is Bearish.
Can you provide the RSI signal for METHODE ELECTRONICS INC?
METHODE ELECTRONICS INC (MEI) has an RSI value of 47.9404. This indicates that the stock is currently neutral.
Can you provide the MACD signal for METHODE ELECTRONICS INC?
The MACD indicator for METHODE ELECTRONICS INC (MEI) has a value of 0.00893402, indicating a bearish trend.
What is the short term momentum for METHODE ELECTRONICS INC (MEI) stock?
The short term momentum for METHODE ELECTRONICS INC (MEI) is negative.