METHODE ELECTRONICS INC (MEI) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MEI - US5915202007 - Common Stock
Taking everything into account, MEI scores 1 out of 10 in our technical rating. MEI's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, MEI does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 7.08, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
6.26
4 important support areas can be observed.
- A support zone ranging from 6.98 to 7.08. 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 6.69. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @6.50 from a horizontal line 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 @7.11 from a horizontal line in the daily time frame.
- A resistance zone ranging from 8.16 to 8.27. 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 | DOWN | NEGATIVE | The long term trend for MEI is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MEI is neutral. |
| ChartMill Relative Strength | 14.5 | NEGATIVE | MEI has a low relative strength, it was outperformed by 85.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MEI is above a declining 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 | MIXED | The current price of MEI is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.21 | NEUTRAL | The RSI value for MEI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests MEI has a positive trend. |
| Stochastics (14,3) | 74.95 | NEUTRAL | The Stochastics value for MEI is a neutral value. |
| Average True Range in percent/ATR (20) | 3.43 | MEDIUM VOLATILITY | The ATR as a percentage value for MEI suggests some volalility. |
| Average Directional Index/ADX (14) | 8.85 | NEGATIVE | The low ADX value for MEI suggests a weak or negative trend. |
7.1
+0.12 (+1.72%)
METHODE ELECTRONICS INC / MEI FAQ
Can you provide the ChartMill technical rating for METHODE ELECTRONICS INC?
ChartMill assigns a technical rating of 1 / 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 54.2066. 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 7.08 and a resistance level at 7.11. Check the full technical report for our detailed analysis of MEI support and resistance levels.