MERIT MEDICAL SYSTEMS INC (MMSI) Stock Technical Analysis
NASDAQ:MMSI - Nasdaq - US5898891040 - Common Stock - Currency: USD
Overall MMSI gets a technical rating of 3 out of 10. Although MMSI is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
MMSI is part of the Health Care Equipment & Supplies industry. There are 189 other stocks in this industry. MMSI outperforms 78% of them.
The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
When comparing the yearly performance of all stocks, we notice that MMSI is one of the better performing stocks in the market, outperforming 72% of all stocks. However, MMSI's most recent performance is quite weak.
MMSI is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MMSI is lagging the market slightly.
In the last month MMSI has a been trading in the 92.00 - 100.19 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
87.60
111.39
When analyzing the support we can see 3 important areas.
- Support @92.51 from a trend line in the weekly time frame.
- Support @90.89 from a horizontal line in the weekly time frame.
- Support @88.48 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 95.87 to 98.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 104.32 to 104.85. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @107.04 from a horizontal line in the daily time frame.
- A resistance zone ranging from 109.12 to 110.29. This zone is formed by a combination of multiple trend lines 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 | 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 | 72.13 | POSITIVE | MMSI has a high relative strength, it outperformed 72.13% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MMSI is below the rising 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) | UP | MIXED | The current price of MMSI is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.34 | NEUTRAL | The RSI value for MMSI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests MMSI has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 44.69 | NEUTRAL | The Stochastics value for MMSI is a neutral value. |
| Average True Range in percent/ATR (20) | 2.37 | MEDIUM VOLATILITY | The ATR as a percentage value for MMSI suggests some volalility. |
| Average Directional Index/ADX (14) | 17.56 | NEGATIVE | The low ADX value for MMSI suggests a weak or negative 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)
95.38
+0.27 (+0.28%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Equipment & Supplies
Performance
% Chg0.28%
1 Week-3.49%
2 Weeks-0.47%
1 Month0.81%
3 Month-7.54%
6 Month-9.45%
12 Month16.43%
2 Year15.75%
3 Year55.37%
5 Year112%
10 Year363.91%
15 Year523.81%
Volatility
ATR(14)2.25
ATR(20)%2.37%
ATR Inc-16.49%
Range Today1.73
ADR(20)2.08
ADR(20)%2.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS72.13
Mansfield-0.23
10 Day High100.19
10 Day Low93.86
20 Day High100.19
20 Day Low92
52 Week High111.45
52 Week Low80.02
CS1 End92.51
CR1 Start95.87
Volume & EV
DER(3)-2.74%
DER(5)-2.37%
Volume401.92K
Volume Incr-29.75%
Vol(5)534.49K
Vol(50)766.74K