METHANEX CORP (MEOH) Stock Technical Analysis
NASDAQ:MEOH - Nasdaq - CA59151K1084 - Common Stock - Currency: USD
Taking everything into account, MEOH scores 4 out of 10 in our technical rating. In the past year, MEOH was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
When comparing the yearly performance of all stocks, MEOH is a bad performer in the overall market: 80% of all stocks are doing better.
In the last month MEOH has a been trading in the 31.57 - 37.61 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.
The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
MEOH is part of the Chemicals industry. There are 85 other stocks in this industry, MEOH did better than 53% of them.
MEOH 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 MEOH is lagging the market slightly.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
MEOH has an average technical rating and it also 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
31.81
54.22
2 important support areas can be observed.
- A support zone ranging from 34.06 to 34.34. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 32.13 to 32.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 37.32 to 37.32. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @51.08 from a horizontal line in the weekly time frame.
- Resistance @53.68 from a horizontal line in the weekly 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 | DOWN | NEGATIVE | The long term trend for MEOH is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEOH is up. |
| ChartMill Relative Strength | 20.63 | NEGATIVE | MEOH has a low relative strength, it was outperformed by 79.37% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MEOH is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MEOH is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MEOH is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 69.64 | NEUTRAL | The RSI value for MEOH is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.4 | POSITIVE | The MACD value suggests MEOH has a positive trend. |
| Stochastics (14,3) | 91.62 | OVERBOUGHT | The high Stochastics value suggests MEOH may be overbought. |
| Average True Range in percent/ATR (20) | 3.22 | MEDIUM VOLATILITY | The ATR as a percentage value for MEOH suggests some volalility. |
| Average Directional Index/ADX (14) | 20.02 | NEUTRAL | The ADX value for MEOH 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)
37.31
+0.05 (+0.13%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryChemicals
Performance
% Chg0.13%
1 Week8.36%
2 Weeks13.72%
1 Month15.05%
3 Month-0.35%
6 Month-19.56%
12 Month-23.29%
2 Year-9.81%
3 Year-2.41%
5 Year106.36%
10 Year-32.97%
15 Year89.49%
Volatility
ATR(14)1.28
ATR(20)%3.22%
ATR Inc3.13%
Range Today0.98
ADR(20)1.08
ADR(20)%2.9%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS20.63
Mansfield-1.37
10 Day High37.61
10 Day Low32.92
20 Day High37.61
20 Day Low31.57
52 Week High54.49
52 Week Low25.46
CS1 End34.34
CR1 Start37.32
Volume & EV
DER(3)-1.28%
DER(5)-3.05%
Volume868.10K
Volume Incr137.2%
Vol(5)990.60K
Vol(50)627.75K