METHODE ELECTRONICS INC (MEI) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:MEI • US5915202007
Overall MEI gets a technical rating of 8 out of 10. 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.
- The long and short term trends are both positive. This is looking good!
- In the last month MEI has a been trading in the 6.81 - 9.27 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- When comparing the performance of all stocks over the past year, MEI turns out to be only a medium performer in the overall market: it outperformed 67% of all stocks.
- MEI is part of the Electronic Equipment, Instruments & Components industry. There are 123 other stocks in this industry, MEI did better than 52% of them.
- 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
6.44
3 important support areas can be observed.
- A support zone ranging from 6.82 to 6.84. 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.
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 | 67.95 | 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) | 77.46 | OVERBOUGHT | The high RSI value suggests MEI may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.14 | POSITIVE | The MACD value suggests MEI has a positive trend. |
| Stochastics (14,3) | 92.19 | OVERBOUGHT | The high Stochastics value suggests MEI may be overbought. |
| Average True Range in percent/ATR (20) | 4.27 | MEDIUM VOLATILITY | The ATR as a percentage value for MEI suggests some volalility. |
| Average Directional Index/ADX (14) | 32.23 | POSITIVE | The high ADX value value for MEI suggests a strong trend. |
9.09
+0.26 (+2.94%)
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 77.4627. This indicates that the stock is currently overbought.
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 6.84. Check the full technical report for our detailed analysis of MEI support and resistance levels.