MICHELIN (CGDE) (ML.PA)

FR001400AJ45 - Common Stock

27.5  +0.07 (+0.26%)

Technical Rating

0

We assign a technical rating of 0 out of 10 to ML. 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.



ML has an average volume of 1576840 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 26.42 - 29.76 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the yearly performance of all stocks, ML is a bad performer in the overall market: 97% of all stocks are doing better.
ML is one of the lesser performing stocks in the Automobile Components industry. 93% of 13 stocks in the same industry do better.
ML is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

Statistics

1 Month 3 Months 6 Months 12 Months -6.80% -7.67% 1.09% -77.51% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 3.28 21.985 - 123.7
ML Weekly chart
ML Daily chart

Support/Resistance Analysis


26.18

30.74
When analyzing the support we notice one important area.
  • A support zone ranging from 26.44 to 27.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
4 important resistance areas can be observed.
  • A resistance zone ranging from 28.00 to 28.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Resistance @28.77 from a trend line in the weekly time frame.
  • Resistance @29.75 from a horizontal line in the daily time frame.
  • A resistance zone ranging from 30.38 to 30.44. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

6

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 27.34, a Stop Loss order could be placed below this zone.


ML Daily chart

MICHELIN (CGDE)

EPA:ML (6/5/2023, 3:25:57 PM)

27.5

+0.07 (+0.26%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryAutomobile Components
Performance
% Chg0.26%
1 Week-0.4%
2 Weeks-2%
1 Month-6.8%
3 Month-7.67%
6 Month1.09%
12 Month-77.51%
Volatility
ATR(14)0.57
ATR(20)%2.06%
ATR Inc10.62%
Range Today0.22
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS3.28
Mansfield-1.17
10 Day High28.08
10 Day Low26.42
20 Day High29.76
20 Day Low26.42
52 Week High123.7
52 Week Low21.99
CS1 End27.34
CR1 Start28
Volume & EV
DER(3)-0.01%
DER(5)-0.07%
Volume139.95K
Volume Incr-11.59%
Vol(5)1.30M
Vol(50)1.58M
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