MELHUS SPAREBANK (MELG.OL) Stock Technical Analysis
Europe - OSL:MELG - NO0006001908 - Common Stock
169.96 NOK
-0.04 (-0.02%)
We assign a technical rating of 0 out of 10 to MELG. MELG'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.
When comparing the yearly performance of all stocks, MELG is a bad performer in the overall market: 63% of all stocks are doing better.
MELG is part of the Banks industry. There are 89 other stocks in this industry, of which 89% are performing better than MELG.
Warning: MELG has an average volume of 769 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
MELG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MELG is lagging the market.
In the last month MELG has a been trading in a tight range between 168.86 and 178.56.
Volume is considerably higher in the last couple of days.
The technical rating of MELG is bad and it also does not present a quality setup 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
150.47
181.80
3 important support areas can be observed.
- Support @162.00 from a horizontal line in the daily time frame.
- A support zone ranging from 157.00 to 158.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 151.99 to 152.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 170.04 to 174.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 178.00 to 180.00. 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 | NEUTRAL | NEUTRAL | The long term trend for MELG.OL is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MELG.OL is down. |
| ChartMill Relative Strength | 37.04 | NEUTRAL | MELG.OL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MELG.OL is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MELG.OL is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MELG.OL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 36.65 | NEUTRAL | The RSI value for MELG.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.5 | NEGATIVE | The MACD value suggests MELG.OL has a negative trend. |
| Stochastics (14,3) | 4.9 | OVERSOLD | The low Stochastics value suggests MELG.OL may be oversold. |
| Average True Range in percent/ATR (20) | 1.06 | LOW VOLATILITY | The low ATR as a percentage value for MELG.OL suggests low volalility. |
| Average Directional Index/ADX (14) | 28.04 | POSITIVE | The high ADX value value for MELG.OL 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)
OSL:MELG (9/12/2025, 7:00:00 PM)
169.96
-0.04 (-0.02%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-0.02%
1 Week-2.88%
2 Weeks-2.6%
1 Month-1.76%
3 Month-4.52%
6 Month-4.39%
12 Month6.89%
2 Year8.25%
3 Year12.56%
5 Year21.4%
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.59
ATR(20)%1.06%
ATR Inc191.49%
Range Today1.62
ADR(20)1.46
ADR(20)%0.86%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS37.04
Mansfield-0.93
10 Day High177.48
10 Day Low169.3
20 Day High178.56
20 Day Low168.86
52 Week High187
52 Week Low155
CS1 End162
CR1 Start170.04
Volume & EV
DER(3)0%
DER(5)0%
Volume4.80K
Volume Incr831.11%
Vol(5)3.50K
Vol(50)769.42