MICHELIN (CGDE) (ML.PA)

FR001400AJ45 - Common Stock

36.25  -0.21 (-0.58%)

Technical Rating and Analysis

10

Taking everything into account, ML scores 10 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, ML is showing a nice and steady performance.

The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
Looking at the yearly performance, ML did better than 86% of all other stocks. We also observe that the gains produced by ML over the past year are nicely spread over this period.
ML is part of the Automobile Components industry. There are 30 other stocks in this industry. ML outperforms 89% of them.
ML is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ML is lagging the market slightly.
ML has an average volume of 1457730 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month ML has a been trading in the 35.58 - 37.78 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Weekly and Daily overview Charts
ML Weekly chart
ML Daily chart
Setup Rating and Analysis

6

ML has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. 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.
Support and Resistance Analysis

25.58

38.17

When analyzing the support we can see 5 important areas.

  • A support zone ranging from 35.41 to 36.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 33.92 to 34.39. This zone is formed by a combination of multiple trend lines in the daily time frame.
  • Support @30.71 from a trend line in the weekly time frame.
  • Support @26.95 from a horizontal line in the weekly time frame.
  • Support @25.84 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice one important area.

  • A resistance zone ranging from 36.39 to 37.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.73
Mansfield0.35
10 Day High37.78
10 Day Low35.77
20 Day High37.78
20 Day Low35.58
52 Week High37.78
52 Week Low25.6
Performance
1 Week-2.82%
2 Weeks-2.34%
1 Month1.14%
3 Month6.09%
6 Month21.24%
12 Month31.63%
2 Year19.59%
3 Year15.26%
5 Year40.85%
10 Year60.4%
15 Year238.83%
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)
Technical Indicators
MACD(12,26,9)-0.17
RSI(14)46.99
LBB36.19
UBB38.01
Example Setup

Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.

ENTRYEXITDISTANCECAPITAL
37.0735.761.31 (3.53%)25.00%
An entry @37.07. This is a Buy Stop order right above the 10 day moving average.An exit @35.76. This is a Stop Loss order right below the 10 day low.The worst case loss on the trade is limited to 1.31 points, which is 3.53%.For a 0.88% total portfolio risk, you can invest 25.00% of your capital in this trade.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
ML Daily chart

MICHELIN (CGDE)

EPA:ML (5/24/2024, 7:00:00 PM)

36.25

-0.21 (-0.58%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryAutomobile Components
Performance
% Chg-0.58%
1 Week-2.82%
2 Weeks-2.34%
1 Month1.14%
3 Month6.09%
6 Month21.24%
12 Month31.63%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)0.58
ATR(20)%1.68%
ATR Inc
Range Today0.33
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High37.78
10 Day Low35.77
20 Day High37.78
20 Day Low35.58
52 Week High37.78
52 Week Low25.6
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume930.69K
Volume Incr-2.33%
Vol(5)1.38M
Vol(50)1.46M