MMSI Technical Analysis - MERIT MEDICAL SYSTEMS INC

Technical Rating and Analysis

Overall MMSI gets a technical rating of 0 out of 10. 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 negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, MMSI is a bad performer in the overall market: 85% of all stocks are doing better.

MMSI is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.

In the last month MMSI has a been trading in the 78.12 - 85.84 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

MMSI is an average performer in the Health Care Equipment & Supplies industry, it outperforms 45% of 191 stocks in the same industry.

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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

78.19

96.23

We found 1 important support area.

A support zone ranging from 78.98 to 78.98. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 4 important areas.

A resistance zone ranging from 84.21 to 84.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 89.68 to 90.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @92.87 from a horizontal line in the daily time frame.
Resistance @95.28 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	DOWN	NEGATIVE	The long term trend for MMSI is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MMSI is down.
ChartMill Relative Strength	15.95	NEGATIVE	MMSI has a low relative strength, it was outperformed by 84.05% 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)	35.32	NEUTRAL	The RSI value for MMSI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.02	NEGATIVE	The MACD value suggests MMSI has a negative trend.
Stochastics (14,3)	50.91	NEUTRAL	The Stochastics value for MMSI is a neutral value.
Average True Range in percent/ATR (20)	2.59	MEDIUM VOLATILITY	The ATR as a percentage value for MMSI suggests some volalility.
Average Directional Index/ADX (14)	28.64	POSITIVE	The high ADX value value for MMSI suggests a strong trend.