MELHUS SPAREBANK (MELG.OL) Stock Technical Analysis
OSL:MELG - Euronext Oslo - NO0006001908 - Common Stock - Currency: NOK
We assign a technical rating of 6 out of 10 to MELG. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MELG is only an average performer.
MELG is one of the lesser performing stocks in the Banks industry. 79% of 92 stocks in the same industry do better.
Warning: MELG has an average volume of 839 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the performance of all stocks over the past year, MELG turns out to be only a medium performer in the overall market: it outperformed 64% of all stocks.
MELG is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MELG is lagging the market slightly.
In the last month MELG has a been trading in a tight range between 167.56 and 173.90.
Considerably lower volume is observed in the last couple of days.
MELG has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
150.47
181.81
We found 3 important support areas.
- Support @168.33 from a trend line in the weekly time frame.
- A support zone ranging from 158.80 to 161.84. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 151.99 to 156.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 170.24 to 171.46. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @175.00 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 178.01 to 180.01. 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 MELG.OL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MELG.OL is up. |
| ChartMill Relative Strength | 64.6 | NEUTRAL | MELG.OL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MELG.OL is below the rising 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) | 59.35 | NEUTRAL | The RSI value for MELG.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.51 | POSITIVE | The MACD value suggests MELG.OL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 90.83 | OVERBOUGHT | The high Stochastics value suggests MELG.OL may be overbought. |
| Average True Range in percent/ATR (20) | 0.5 | LOW VOLATILITY | The low ATR as a percentage value for MELG.OL suggests low volalility. |
| Average Directional Index/ADX (14) | 16.74 | NEGATIVE | The low ADX value for MELG.OL suggests a weak or negative 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 (5/30/2025, 7:00:00 PM)
170.04
-3.86 (-2.22%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-2.22%
1 Week1.42%
2 Weeks1.84%
1 Month2.68%
3 Month0.59%
6 Month6.82%
12 Month12.35%
2 Year8.82%
3 Year5.5%
5 Year37.32%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.72
ATR(20)%0.5%
ATR Inc53.46%
Range Today2.96
ADR(20)0.49
ADR(20)%0.29%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS64.6
Mansfield0.4
10 Day High173.9
10 Day Low170
20 Day High173.9
20 Day Low167.56
52 Week High182
52 Week Low151.6
CS1 End168.33
CR1 Start170.24
Volume & EV
DER(3)0%
DER(5)0%
Volume1.72K
Volume Incr-69.02%
Vol(5)155
Vol(50)839.2