MMSI Technical Analysis - MERIT MEDICAL SYSTEMS INC

Technical Rating and Analysis

Taking everything into account, MMSI scores 0 out of 10 in our technical rating. MMSI'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.

86% of all other stocks performed better in the past year than MMSI.

MMSI 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.

In the last month MMSI has a been trading in the 82.06 - 93.27 range, which is quite wide. It is currently trading near the lows of this range.

The short term trend is negative, the long term trend is neutral. Not much exciting going on here.

MMSI is part of the Health Care Equipment & Supplies industry. There are 191 other stocks in this industry, MMSI did better than 43% of them.

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

MERIT MEDICAL SYSTEMS INC / MMSI Weekly stock chart

MERIT MEDICAL SYSTEMS INC / MMSI Daily stock chart

Setup Rating and Analysis

The technical rating of MMSI is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

81.86

99.82

When analyzing the support we notice one important area.

A support zone ranging from 82.69 to 83.02. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 3 important resistance areas.

A resistance zone ranging from 91.66 to 92.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @95.28 from a horizontal line in the daily time frame.
Resistance @98.83 from a horizontal line in the daily time frame.

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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	NEUTRAL	NEUTRAL	The long term trend for MMSI is neutral.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MMSI is down.
ChartMill Relative Strength	14.32	NEGATIVE	MMSI has a low relative strength, it was outperformed by 85.68% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MMSI is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MMSI is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MMSI is below a declining SMA(200).
Relative Strength Index/RSI (14)	38.74	NEUTRAL	The RSI value for MMSI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.9	NEGATIVE	The MACD value suggests MMSI has a negative trend, although the MACD value is rising.
Stochastics (14,3)	12.47	OVERSOLD	The low Stochastics value suggests MMSI may be oversold.
Average True Range in percent/ATR (20)	2.43	MEDIUM VOLATILITY	The ATR as a percentage value for MMSI suggests some volalility.
Average Directional Index/ADX (14)	27.33	POSITIVE	The high ADX value value for MMSI suggests a strong trend.