MICHELIN (CGDE) (ML.PA)       116.5  -4.25 (-3.52%)

116.5  -4.25 (-3.52%)

FR0000121261 - Common Stock

Technical Rating

Overall ML gets a technical rating of 1 out of 10. ML scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.



ML is one of the better performing stocks in the Auto Components industry, it outperforms 76% of 13 stocks in the same industry.
In the last month ML has a been trading in the 110.55 - 123.95 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.
ML is currently trading in the middle of its 52 week range. The S&P500 Index is currently trading in the lower part of its 52 week range, so ML is still doing slightly better than the market.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
74% of all other stocks performed better in the past year than ML.

Statistics

1 Month 3 Months 6 Months 12 Months -4.04% -13.99% -15.21% -6.28% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 26.54 99.58 - 155.7
ML Weekly chart
ML Daily chart

Support/Resistance Analysis


107.76

128.17
We found 3 important support areas.
  • A support zone ranging from 114.55 to 114.89. This zone is formed by a combination of multiple trend lines in the daily time frame.
  • Support @111.57 from a trend line in the weekly time frame.
  • Support @108.85 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
  • A resistance zone ranging from 117.55 to 121.83. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Resistance @126.90 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

Although the technical rating is bad, ML does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 114.89, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

ML Daily chart

MICHELIN (CGDE)116.5

EPA:ML (5/17/2022, 7:00:00 PM)-4.25 (-3.52%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Consumer Discretionary
GICS Industry Auto Components
Performance
Today -3.52% 1 Week 1%
2 Weeks -2.43% 1 Month -4.04%
3 Month -13.99% 6 Month -15.21%
Volatility
ATR(14) 4.19 ATR(20)% 3.45%
ATR Inc 28.38% Range Today 2.2
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 26.54 Mansfield -0.52
10 Day High 123.35 10 Day Low 113.6
20 Day High 123.95 20 Day Low 110.55
52 Week High 155.7 52 Week Low 99.58
CS1 End 114.89 CR1 Start 117.55
Volume & EV
DER(3) 1.06% DER(5) 2.04%
Volume 322.61K Volume Incr -2.18%
Vol(5) 409.79K Vol(50) 521.33K

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