MESA Technical Analysis - MESA AIR GROUP INC

Technical Rating and Analysis

Taking everything into account, MESA scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MESA is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

MESA is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month MESA has a been trading in the 1.07 - 1.43 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, MESA did better than 87% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

MESA is an average performer in the Passenger Airlines industry, it outperforms 70% of 21 stocks in the same industry.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MESA AIR GROUP INC / MESA Weekly stock chart

MESA AIR GROUP INC / MESA Daily stock chart

Setup Rating and Analysis

Although MESA has an excellent technical rating, the quality of the presented setup is not ideal 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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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.78

1.42

We found 4 important support areas.

A support zone ranging from 1.36 to 1.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @1.12 from a trend line in the weekly time frame.
Support @1.07 from a trend line in the daily time frame.
Support @0.79 from a trend line in the weekly time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 1.40 to 1.41. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

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 MESA is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MESA is up.
ChartMill Relative Strength	87.24	POSITIVE	MESA has a high relative strength, it outperformed 87.24% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MESA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of MESA is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MESA is above the rising SMA(200).
Relative Strength Index/RSI (14)	66.63	NEUTRAL	The RSI value for MESA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	POSITIVE	The MACD value suggests MESA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	86.11	OVERBOUGHT	The high Stochastics value suggests MESA may be overbought.
Average True Range in percent/ATR (20)	4.55	MEDIUM VOLATILITY	The ATR as a percentage value for MESA suggests some volalility.
Average Directional Index/ADX (14)	24.86	NEUTRAL	The ADX value for MESA suggests a possible start of a new trend.