METHODE ELECTRONICS INC (MEI) Stock Technical Analysis
NYSE:MEI • US5915202007
Taking everything into account, MEI scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MEI is only an average performer.
- MEI is part of the Electronic Equipment, Instruments & Components industry. There are 122 other stocks in this industry, of which 61% are performing better than MEI.
- The long and short term trends are both positive. This is looking good!
- 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.
- When compared to the yearly performance of all other stocks, MEI outperforms 44% of them, which is more or less in line with the market.
- 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.
Although MEI has an excellent technical rating, the quality of the presented setup is not ideal 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
6.44
When analyzing the support we can see 4 important areas.
- A support zone ranging from 8.44 to 8.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 6.86 to 6.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @6.66 from a horizontal line in the daily time frame.
- Support @6.50 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 9.02 to 9.10. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 44.25 | NEUTRAL | MEI is not amongst the best or worst performers 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) | UP | POSITIVE | The current price of MEI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.87 | NEUTRAL | The RSI value for MEI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MEI has a negative trend. |
| Stochastics (14,3) | 61.06 | NEUTRAL | The Stochastics value for MEI is a neutral value. |
| Average True Range in percent/ATR (20) | 4.95 | MEDIUM VOLATILITY | The ATR as a percentage value for MEI suggests some volalility. |
| Average Directional Index/ADX (14) | 31.45 | POSITIVE | The high ADX value value for MEI suggests a strong trend. |
8.56
-0.1 (-1.15%)
METHODE ELECTRONICS INC / MEI FAQ
Can you provide the ChartMill technical rating for METHODE ELECTRONICS INC?
ChartMill assigns a technical rating of 8 / 10 to MEI.
What is the trend direction for MEI stock?
The current trend direction for METHODE ELECTRONICS INC (MEI) is Bullish.
Can you provide the RSI signal for METHODE ELECTRONICS INC?
METHODE ELECTRONICS INC (MEI) has an RSI value of 56.8703. This indicates that the stock is currently neutral.
What is the buy/sell signal for METHODE ELECTRONICS INC (MEI) stock?
The buy/sell signal for METHODE ELECTRONICS INC (MEI) is buy as both the short term and long term trends are positive.
What is the support and resistance level for MEI stock?
METHODE ELECTRONICS INC (MEI) has a support level at 8.55 and a resistance level at 9.02. Check the full technical report for our detailed analysis of MEI support and resistance levels.