MELHUS SPAREBANK (MELG.OL) Stock Technical Analysis
OSL:MELG - Euronext Oslo - NO0006001908 - Common Stock - Currency: NOK
Taking everything into account, MELG scores 8 out of 10 in our technical rating. Although MELG is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
MELG is one of the lesser performing stocks in the Banks industry. 79% of 97 stocks in the same industry do better.
Warning: MELG has an average volume of 798 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long and short term trends are both positive. This is looking good!
MELG is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so MELG is performing more or less in line with the market.
When compared to the yearly performance of all other stocks, MELG outperforms 66% of them, which is more or less in line with the market.
In the last month MELG has a been trading in the 170.00 - 187.00 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although MELG has an excellent technical rating, it does not offer a high 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
181.46
We found 4 important support areas.
- A support zone ranging from 169.39 to 175.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @163.23 from a trend line in the daily time frame.
- A support zone ranging from 158.80 to 159.90. 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.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 179.01 to 179.66. This zone is formed by a combination of multiple trend lines and important moving averages 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 | 66.84 | NEUTRAL | MELG.OL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MELG.OL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MELG.OL is above the rising 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) | 54.91 | NEUTRAL | The RSI value for MELG.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.38 | POSITIVE | The MACD value suggests MELG.OL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 59.47 | NEUTRAL | The Stochastics value for MELG.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 1.2 | LOW VOLATILITY | The low ATR as a percentage value for MELG.OL suggests low volalility. |
| Average Directional Index/ADX (14) | 20.6 | NEUTRAL | The ADX value for MELG.OL suggests a possible start of a new 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 (6/20/2025, 7:00:00 PM)
178
-2.4 (-1.33%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-1.33%
1 Week0%
2 Weeks4.68%
1 Month4.34%
3 Month0%
6 Month10.56%
12 Month15.21%
2 Year12.66%
3 Year11.95%
5 Year34.85%
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.73
ATR(20)%1.2%
ATR Inc-23.92%
Range Today2.02
ADR(20)0.91
ADR(20)%0.51%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS66.84
Mansfield0.43
10 Day High187
10 Day Low174
20 Day High187
20 Day Low170
52 Week High187
52 Week Low152.8
CS1 End175.53
CR1 Start179.01
Volume & EV
DER(3)0%
DER(5)0%
Volume1.14K
Volume Incr-12.74%
Vol(5)350.4
Vol(50)798.92