MIDD Technical Analysis - MIDDLEBY CORP

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to MIDD. MIDD scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

When comparing the yearly performance of all stocks, MIDD is a bad performer in the overall market: 75% of all stocks are doing better.

MIDD is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

Both the short term and long term trends are neutral. So this is not the most entertaining stock around.

MIDD is an average performer in the Machinery industry, it outperforms 41% of 128 stocks in the same industry.

In the last month MIDD has a been trading in the 129.18 - 146.18 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

The technical rating of MIDD is bad and it also does not present a 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

117.11

153.64

We found 1 important support area.

A support zone ranging from 118.29 to 120.12. This zone is formed by a combination of multiple trend lines in multiple time frames.

4 important resistance areas can be observed.

A resistance zone ranging from 138.79 to 139.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 143.29 to 143.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @149.71 from a horizontal line in the weekly time frame.
A resistance zone ranging from 152.11 to 152.12. This zone is formed by a combination of multiple trend lines in the daily time frame.

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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	NEUTRAL	NEUTRAL	The long term trend for MIDD is neutral.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for MIDD is neutral.
ChartMill Relative Strength	25.9	NEGATIVE	MIDD has a low relative strength, it was outperformed by 74.1% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of MIDD is below the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MIDD is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MIDD is below a declining SMA(200).
Relative Strength Index/RSI (14)	45.54	NEUTRAL	The RSI value for MIDD is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.25	POSITIVE	The MACD value suggests MIDD has a positive trend, although the MACD value is declining.
Stochastics (14,3)	35.53	NEUTRAL	The Stochastics value for MIDD is a neutral value.
Average True Range in percent/ATR (20)	2.71	MEDIUM VOLATILITY	The ATR as a percentage value for MIDD suggests some volalility.
Average Directional Index/ADX (14)	12.56	NEGATIVE	The low ADX value for MIDD suggests a weak or negative trend.