MILLERKNOLL INC (MLKN) Stock Technical Analysis
NASDAQ:MLKN - US6005441000 - Common Stock
21.11 USD
-0.15 (-0.71%)
21 USD
-0.11 (-0.52%)
We assign a technical rating of 7 out of 10 to MLKN. Although MLKN is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
When comparing the yearly performance of all stocks, MLKN is a bad performer in the overall market: 73% of all stocks are doing better.
Both the short term and long term trends are positive. This is a very positive sign.
MLKN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
MLKN is part of the Commercial Services & Supplies industry. There are 83 other stocks in this industry, MLKN did better than 45% of them.
MLKN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MLKN is lagging the market.
MLKN 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. There is a resistance zone just above the current price starting at 22.09. Right above this resistance zone may be a good entry point.
More info and screens
18.03
23.03
We found 3 important support areas.
- Support @19.26 from a trend line in the daily time frame.
- A support zone ranging from 18.58 to 18.87. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 18.21 to 18.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 22.09 to 22.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @22.80 from a horizontal line in the daily time frame.
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 MLKN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MLKN is up. |
| ChartMill Relative Strength | 27.79 | NEGATIVE | MLKN has a low relative strength, it was outperformed by 72.21% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MLKN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MLKN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MLKN is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.92 | NEUTRAL | The RSI value for MLKN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MLKN has a negative trend. |
| Stochastics (14,3) | 61.85 | NEUTRAL | The Stochastics value for MLKN is a neutral value. |
| Average True Range in percent/ATR (20) | 3.42 | MEDIUM VOLATILITY | The ATR as a percentage value for MLKN suggests some volalility. |
| Average Directional Index/ADX (14) | 31.05 | POSITIVE | The high ADX value value for MLKN suggests a strong trend. |
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)
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 |
|---|---|---|---|
| 21.41 | 20.75 | 0.66 (3.09%) | 25.00% |
| An entry @21.41. This is a Buy Stop order right above the 10 day moving average. | An exit @20.75. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.66 points, which is 3.09%. | For a 0.77% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MLKN. 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.
21.11
-0.15 (-0.71%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryCommercial Services & Supplies
Performance
% Chg-0.71%
1 Week-4.87%
2 Weeks-0.61%
1 Month15.93%
3 Month25.13%
6 Month-1.81%
12 Month-28.32%
2 Year10.52%
3 Year-23.74%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.72
ATR(20)%3.42%
ATR Inc-22.61%
Range Today0.45
ADR(20)0.7
ADR(20)%3.31%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS27.79
Mansfield-0.86
10 Day High22.23
10 Day Low20.76
20 Day High22.23
20 Day Low18.39
52 Week High29.29
52 Week Low15.25
CS1 End19.26
CR1 Start22.09
Volume & EV
DER(3)-1.44%
DER(5)-1.16%
Volume327.10K
Volume Incr5.42%
Vol(5)394.80K
Vol(50)482.78K