MELHUS SPAREBANK (MELG.OL) Stock Technical Analysis
Europe - Euronext Oslo - OSL:MELG - NO0006001908 - Common Stock
Overall MELG gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MELG is showing a nice and steady performance.
Although MELG 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.
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155.43
When analyzing the support we can see 2 important areas.
- A support zone ranging from 165.98 to 171.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Strong support @157.00 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 192.41 to 195.01. 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 | 72.55 | POSITIVE | MELG.OL has a high relative strength, it outperformed 72.55% off all stocks 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) | 68.07 | NEUTRAL | The RSI value for MELG.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.55 | POSITIVE | The MACD value suggests MELG.OL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 88.82 | OVERBOUGHT | The high Stochastics value suggests MELG.OL may be overbought. |
| Average True Range in percent/ATR (20) | 1.12 | LOW VOLATILITY | The low ATR as a percentage value for MELG.OL suggests low volalility. |
| Average Directional Index/ADX (14) | 34.35 | POSITIVE | The high ADX value value for MELG.OL suggests a strong trend. |
OSL:MELG (12/10/2025, 7:00:00 PM)
192.4
-2.1 (-1.08%)
MELHUS SPAREBANK / MELG.OL FAQ
Can you provide the ChartMill technical rating for MELHUS SPAREBANK?
ChartMill assigns a technical rating of 10 / 10 to MELG.OL.
What is the current trend direction of MELHUS SPAREBANK (MELG.OL) stock?
The current trend direction for MELHUS SPAREBANK (MELG.OL) is Bullish.
What is the RSI signal for MELG stock?
MELHUS SPAREBANK (MELG.OL) has an RSI value of 68.0659. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for MELHUS SPAREBANK?
The buy/sell signal for MELHUS SPAREBANK (MELG.OL) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for MELHUS SPAREBANK (MELG.OL) stock?
MELHUS SPAREBANK (MELG.OL) has a support level at 171.83 and a resistance level at 192.41. Check the full technical report for our detailed analysis of MELG.OL support and resistance levels.