METHANEX CORP (MEOH) Stock Technical Analysis
NASDAQ:MEOH - CA59151K1084 - Common Stock
38.61 USD
+1.52 (+4.1%)
38.61 USD
0 (0%)
We assign a technical rating of 7 out of 10 to MEOH. MEOH has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
In the last month MEOH has a been trading in the 32.37 - 38.62 range, which is quite wide. It is currently trading near the high of this range.
When comparing the performance of all stocks over the past year, MEOH turns out to be only a medium performer in the overall market: it outperformed 45% of all stocks.
MEOH is an average performer in the Chemicals industry, it outperforms 58% of 83 stocks in the same industry.
MEOH is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MEOH is lagging the market.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although MEOH has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
32.11
54.22
When analyzing the support we can see 4 important areas.
- Support @38.32 from a horizontal line in the daily time frame.
- A support zone ranging from 33.86 to 36.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 33.10 to 33.10. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @32.43 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 50.89 to 51.08. This zone is formed by a combination of multiple trend lines 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 | NEUTRAL | NEUTRAL | The long term trend for MEOH is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MEOH is up. |
| ChartMill Relative Strength | 45.19 | NEUTRAL | MEOH is not amongst the best or worst performers 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) | 73.41 | OVERBOUGHT | The high RSI value suggests MEOH may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.33 | POSITIVE | The MACD value suggests MEOH has a positive trend. |
| Stochastics (14,3) | 91.11 | OVERBOUGHT | The high Stochastics value suggests MEOH may be overbought. |
| Average True Range in percent/ATR (20) | 2.48 | MEDIUM VOLATILITY | The ATR as a percentage value for MEOH suggests some volalility. |
| Average Directional Index/ADX (14) | 21.1 | 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)
38.61
+1.52 (+4.1%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryChemicals
Performance
% Chg4.1%
1 Week8.09%
2 Weeks14.06%
1 Month18.69%
3 Month16.51%
6 Month-8.62%
12 Month-9.05%
2 Year-14.3%
3 Year21.15%
5 Year58.24%
10 Year16.44%
15 Year57.66%
Volatility
ATR(14)0.99
ATR(20)%2.48%
ATR Inc114.88%
Range Today1.67
ADR(20)0.94
ADR(20)%2.43%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS45.19
Mansfield-1.02
10 Day High38.62
10 Day Low33.77
20 Day High38.62
20 Day Low32.37
52 Week High54.49
52 Week Low25.46
CS1 End38.32
CR1 Start50.89
Volume & EV
DER(3)3.95%
DER(5)0.96%
Volume1.10M
Volume Incr21.56%
Vol(5)492.27K
Vol(50)512.50K