METHODE ELECTRONICS INC (MEI) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MEI - US5915202007 - Common Stock
We assign a technical rating of 4 out of 10 to MEI. Recently some decent action could be observed, but in the medium term time frame this is still negative. MEI was also a bad performer in the overall market in the last year.
- 84% of all other stocks performed better in the past year than MEI.
- MEI is one of the lesser performing stocks in the Electronic Equipment, Instruments & Components industry. 67% of 125 stocks in the same industry do better.
- 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 short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- In the last month MEI has a been trading in the 6.59 - 7.48 range, which is quite wide. It is currently trading near the high of this range.
MEI has an average technical rating and also the quality of the setup is only medium 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
6.26
We found 4 important support areas.
- A support zone ranging from 7.01 to 7.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 6.66 to 6.71. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 6.49 to 6.50. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @6.32 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- Resistance @7.43 from a horizontal line in the daily time frame.
- A resistance zone ranging from 8.16 to 8.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @12.02 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 | 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 | 16.17 | NEGATIVE | MEI has a low relative strength, it was outperformed by 83.83% 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) | UP | POSITIVE | The current price of MEI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.75 | NEUTRAL | The RSI value for MEI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests MEI has a positive trend. |
| Stochastics (14,3) | 81.81 | OVERBOUGHT | The high Stochastics value suggests MEI may be overbought. |
| Average True Range in percent/ATR (20) | 3.16 | MEDIUM VOLATILITY | The ATR as a percentage value for MEI suggests some volalility. |
| Average Directional Index/ADX (14) | 10.53 | NEGATIVE | The low ADX value for MEI suggests a weak or negative trend. |
7.42
+0.28 (+3.92%)
METHODE ELECTRONICS INC / MEI FAQ
Can you provide the ChartMill technical rating for METHODE ELECTRONICS INC?
ChartMill assigns a technical rating of 4 / 10 to MEI.
What is the trend direction for MEI stock?
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 61.7502. This indicates that the stock is currently neutral.
What are the support and resistance levels for METHODE ELECTRONICS INC (MEI) stock?
METHODE ELECTRONICS INC (MEI) has a support level at 7.06 and a resistance level at 7.43. Check the full technical report for our detailed analysis of MEI support and resistance levels.