MUELLER INDUSTRIES INC (MLI) Stock Technical Analysis
NYSE:MLI • US6247561029
We assign a technical rating of 7 out of 10 to MLI. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- MLI is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
- Looking at the yearly performance, MLI did better than 85% of all other stocks. On top of that, MLI also shows a nice and consistent pattern of rising prices.
- MLI is one of the better performing stocks in the Machinery industry, it outperforms 72% of 131 stocks in the same industry.
- MLI 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 MLI is lagging the market slightly.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
Besides having an excellent technical rating, MLI also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 119.52. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 118.20, a Stop Loss order could be placed below this zone.
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77.04
5 important support areas can be observed.
- A support zone ranging from 117.29 to 118.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @114.65 from a horizontal line in the daily time frame.
- Support @112.60 from a horizontal line in the daily time frame.
- Support @85.89 from a trend line in the weekly time frame.
- Support @77.82 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 119.52 to 121.62. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | UP | POSITIVE | The long term trend for MLI is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MLI is down. |
| ChartMill Relative Strength | 85.7 | POSITIVE | MLI has a high relative strength, it outperformed 85.7% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MLI is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MLI is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MLI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 44.65 | NEUTRAL | The RSI value for MLI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.09 | NEGATIVE | The MACD value suggests MLI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 21.37 | NEUTRAL | The Stochastics value for MLI is a neutral value. |
| Average True Range in percent/ATR (20) | 3.62 | MEDIUM VOLATILITY | The ATR as a percentage value for MLI suggests some volalility. |
| Average Directional Index/ADX (14) | 33.68 | POSITIVE | The high ADX value value for MLI suggests a strong trend. |
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.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 121.63 | 117.28 | 4.35 (3.58%) | 25.00% |
| An entry @121.63. This is a Buy Stop order right above the resistance zone. | An exit @117.28. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.35 points, which is 3.58%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.89%. |
- The distance between exit and entry is rather small compared to the average daily movement of MLI. Please evaluate whether better entry and exit points can be found.
- 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.
119.1
+2.11 (+1.8%)
MUELLER INDUSTRIES INC / MLI FAQ
Can you provide the ChartMill technical rating for MUELLER INDUSTRIES INC?
ChartMill assigns a technical rating of 7 / 10 to MLI.
Can you provide the trend direction for MUELLER INDUSTRIES INC?
The current trend direction for MUELLER INDUSTRIES INC (MLI) is Bullish.
What is the RSI signal for MUELLER INDUSTRIES INC (MLI) stock?
MUELLER INDUSTRIES INC (MLI) has an RSI value of 44.6461. This indicates that the stock is currently neutral.
What is the MACD signal for MLI stock?
The MACD indicator for MUELLER INDUSTRIES INC (MLI) has a value of -1.09172, indicating a bearish trend.
What is the buy/sell signal for MUELLER INDUSTRIES INC (MLI) stock?
The buy/sell signal for MUELLER INDUSTRIES INC (MLI) is hold as the short term and long term trends are mixed.