MERIT MEDICAL SYSTEMS INC (MMSI) Stock Technical Analysis
NASDAQ:MMSI • US5898891040
Taking everything into account, MMSI scores 0 out of 10 in our technical rating. MMSI scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When comparing the yearly performance of all stocks, MMSI is a bad performer in the overall market: 82% of all stocks are doing better.
- MMSI is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month MMSI has a been trading in the 77.62 - 84.62 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- MMSI is part of the Health Care Equipment & Supplies industry. There are 185 other stocks in this industry, MMSI did better than 50% of them.
MMSI has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 83.02. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 81.34, a Stop Loss order could be placed below this zone.
More info and screens
78.07
When analyzing the support we notice one important area.
- A support zone ranging from 78.86 to 81.34. 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 83.02 to 84.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 87.55 to 87.70. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A resistance zone ranging from 92.20 to 93.18. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @95.28 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 | DOWN | NEGATIVE | The long term trend for MMSI is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MMSI is neutral. |
| ChartMill Relative Strength | 18.51 | NEGATIVE | MMSI has a low relative strength, it was outperformed by 81.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MMSI is above 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) | 48.71 | NEUTRAL | The RSI value for MMSI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.35 | POSITIVE | The MACD value suggests MMSI has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.32 | OVERBOUGHT | The high Stochastics value suggests MMSI may be overbought. |
| Average True Range in percent/ATR (20) | 2.76 | MEDIUM VOLATILITY | The ATR as a percentage value for MMSI suggests some volalility. |
| Average Directional Index/ADX (14) | 20.34 | NEUTRAL | The ADX value for MMSI suggests a possible start of a new trend. |
81.84
-1.14 (-1.37%)
MERIT MEDICAL SYSTEMS INC / MMSI FAQ
Can you provide the ChartMill technical rating for MERIT MEDICAL SYSTEMS INC?
ChartMill assigns a technical rating of 0 / 10 to MMSI.
What is the trend direction for MMSI stock?
The current trend direction for MERIT MEDICAL SYSTEMS INC (MMSI) is Bearish.
What is the RSI signal for MERIT MEDICAL SYSTEMS INC (MMSI) stock?
MERIT MEDICAL SYSTEMS INC (MMSI) has an RSI value of 48.7125. This indicates that the stock is currently neutral.
What is the short term momentum for MMSI stock?
The short term momentum for MERIT MEDICAL SYSTEMS INC (MMSI) is neutral.
What are the support and resistance levels for MERIT MEDICAL SYSTEMS INC (MMSI) stock?
MERIT MEDICAL SYSTEMS INC (MMSI) has a support level at 81.34 and a resistance level at 83.02. Check the full technical report for our detailed analysis of MMSI support and resistance levels.