METHANEX CORP (MEOH) Stock Technical Analysis
NASDAQ:MEOH • CA59151K1084
Taking everything into account, MEOH scores 8 out of 10 in our technical rating. Although MEOH is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- MEOH is one of the better performing stocks in the Chemicals industry, it outperforms 70% of 83 stocks in the same industry.
- MEOH is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MEOH is lagging the market slightly.
- In the last month MEOH has a been trading in the 44.78 - 51.94 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- When comparing the yearly performance of all stocks, we notice that MEOH is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
MEOH has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 47.22, a Stop Loss order could be placed below this zone.
More info and screens
32.77
We found 6 important support areas.
- A support zone ranging from 47.03 to 47.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @46.04 from a trend line in the daily time frame.
- Support @38.62 from a trend line in the weekly time frame.
- Support @35.49 from a trend line in the weekly time frame.
- Support @33.84 from a horizontal line in the daily time frame.
- Strong support @33.10 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 48.87 to 49.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @49.92 from a trend 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 | UP | POSITIVE | The long term trend for MEOH is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEOH is up. |
| ChartMill Relative Strength | 78.57 | POSITIVE | MEOH has a high relative strength, it outperformed 78.57% 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) | UP | POSITIVE | The current price of MEOH is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.04 | NEUTRAL | The RSI value for MEOH is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.28 | NEGATIVE | The MACD value suggests MEOH has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 40.86 | NEUTRAL | The Stochastics value for MEOH is a neutral value. |
| Average True Range in percent/ATR (20) | 3.94 | MEDIUM VOLATILITY | The ATR as a percentage value for MEOH suggests some volalility. |
| Average Directional Index/ADX (14) | 35.85 | POSITIVE | The high ADX value value for MEOH suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 49.02 | 47.02 | 2.00 (4.08%) | 24.51% |
| An entry @49.02. This is a Buy Stop order right above the resistance zone. | An exit @47.02. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.00 points, which is 4.08%. | When investing 24.51% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of MEOH. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
48.75
+0.61 (+1.27%)
METHANEX CORP / MEOH FAQ
What is the ChartMill technical rating of METHANEX CORP (MEOH) stock?
ChartMill assigns a technical rating of 8 / 10 to MEOH.
What is the trend direction for MEOH stock?
The current trend direction for METHANEX CORP (MEOH) is Bullish.
Can you provide the RSI signal for METHANEX CORP?
METHANEX CORP (MEOH) has an RSI value of 57.0388. This indicates that the stock is currently neutral.
What is the MACD signal for MEOH stock?
The MACD indicator for METHANEX CORP (MEOH) has a value of -0.275073, indicating a bearish trend.
What are the support and resistance levels for METHANEX CORP (MEOH) stock?
METHANEX CORP (MEOH) has a support level at 47.22 and a resistance level at 48.87. Check the full technical report for our detailed analysis of MEOH support and resistance levels.