ML Technical Analysis - MICHELIN (CGDE)

Technical Rating and Analysis

Taking everything into account, ML scores 0 out of 10 in our technical rating. ML's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

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.

87% of all other stocks performed better in the past year than ML.

ML is one of the lesser performing stocks in the Automobile Components industry. 82% of 29 stocks in the same industry do better.

In the last month ML has a been trading in the 30.52 - 32.49 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 has an average volume of 1257420 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

ML is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ML is lagging the market.

Volume is considerably higher 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

Setup Rating and Analysis

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 30.97, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ML in the last couple of days, which is a good sign.

Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

29.05

35.71

We found 2 important support areas.

A support zone ranging from 30.88 to 30.97. This zone is formed by a combination of multiple trend lines in the daily time frame.
Support @29.34 from a horizontal line in the weekly time frame.

4 important resistance areas can be observed.

A resistance zone ranging from 31.17 to 31.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 32.78 to 33.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 34.60 to 34.61. This zone is formed by a combination of multiple trend lines in the weekly time frame.
A resistance zone ranging from 35.35 to 35.36. This zone is formed by a combination of multiple trend lines in the daily time frame.

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What is Support and Resistance

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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	DOWN	NEGATIVE	The long term trend for ML.PA is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ML.PA is neutral.
ChartMill Relative Strength	13.22	NEGATIVE	ML.PA has a low relative strength, it was outperformed by 86.78% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of ML.PA is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ML.PA is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ML.PA is below a declining SMA(200).
Relative Strength Index/RSI (14)	45.11	NEUTRAL	The RSI value for ML.PA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	POSITIVE	The MACD value suggests ML.PA has a positive trend.
Stochastics (14,3)	41.12	NEUTRAL	The Stochastics value for ML.PA is a neutral value.
Average True Range in percent/ATR (20)	1.49	LOW VOLATILITY	The low ATR as a percentage value for ML.PA suggests low volalility.
Average Directional Index/ADX (14)	12.99	NEGATIVE	The low ADX value for ML.PA suggests a weak or negative trend.