METHODE ELECTRONICS INC (MEI) Stock Technical Analysis
NYSE:MEI - New York Stock Exchange, Inc. - US5915202007 - Common Stock - Currency: USD
Overall MEI gets a technical rating of 8 out of 10. In the last year, MEI was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
Both the short term and long term trends are positive. This is a very positive sign.
In the last month MEI has a been trading in the 7.91 - 10.24 range, which is quite wide. It is currently trading near the high of this range.
When comparing the yearly performance of all stocks, we notice that MEI is one of the better performing stocks in the market, outperforming 87% of all stocks. However, this relatively good performance is mostly due to a recent big move.
MEI is an average performer in the Electronic Equipment, Instruments & Components industry, it outperforms 65% of 125 stocks in the same industry.
MEI is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MEI is lagging the market.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although MEI has an excellent technical rating, it does not present a decent entry opportunity 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
8.79
12.78
When analyzing the support we can see 2 important areas.
- A support zone ranging from 9.44 to 9.44. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @8.88 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 10.05 to 10.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @12.65 from a trend line in the weekly 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 MEI is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEI is up. |
| ChartMill Relative Strength | 87.47 | POSITIVE | MEI has a high relative strength, it outperformed 87.47% 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) | UP | POSITIVE | The current price of MEI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MEI is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 76.19 | OVERBOUGHT | The high RSI value suggests MEI may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests MEI has a positive trend. |
| Stochastics (14,3) | 88.85 | OVERBOUGHT | The high Stochastics value suggests MEI may be overbought. |
| Average True Range in percent/ATR (20) | 3.54 | MEDIUM VOLATILITY | The ATR as a percentage value for MEI suggests some volalility. |
| Average Directional Index/ADX (14) | 48.96 | POSITIVE | The high ADX value value for MEI suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
10.04
+0.1 (+1.01%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryElectronic Equipment, Instruments & Components
Performance
% Chg1.01%
1 Week7.26%
2 Weeks10.33%
1 Month25.19%
3 Month73.7%
6 Month-18.37%
12 Month4.91%
2 Year-70.15%
3 Year-75.65%
5 Year-64.4%
10 Year-62.58%
15 Year-5.99%
Volatility
ATR(14)0.35
ATR(20)%3.54%
ATR Inc-1.96%
Range Today0.38
ADR(20)0.32
ADR(20)%3.23%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS87.47
Mansfield-0.61
10 Day High10.24
10 Day Low8.57
20 Day High10.24
20 Day Low7.91
52 Week High17.45
52 Week Low5.08
CS1 End9.44
CR1 Start10.05
Volume & EV
DER(3)2.77%
DER(5)2.31%
Volume166.30K
Volume Incr-6.46%
Vol(5)262.90K
Vol(50)273.73K