MONRO INC (MNRO) Stock Technical Analysis
NASDAQ:MNRO • US6102361010
Taking everything into account, MNRO scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MNRO is only an average performer.
- The long and short term trends are both positive. This is looking good!
- MNRO is one of the better performing stocks in the Specialty Retail industry, it outperforms 75% of 123 stocks in the same industry.
- MNRO is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- MNRO 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.
- Looking at the yearly performance, MNRO did better than 79% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
MNRO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 22.78, a Stop Loss order could be placed below this zone.
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16.05
When analyzing the support we can see 4 important areas.
- A support zone ranging from 22.43 to 22.78. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 20.70 to 21.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 19.46 to 19.66. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 16.21 to 16.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 23.81 to 23.81. 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 | UP | POSITIVE | The long term trend for MNRO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MNRO is up. |
| ChartMill Relative Strength | 79.11 | POSITIVE | MNRO has a high relative strength, it outperformed 79.11% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MNRO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MNRO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MNRO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.91 | NEUTRAL | The RSI value for MNRO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests MNRO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 77.42 | NEUTRAL | The Stochastics value for MNRO is a neutral value. |
| Average True Range in percent/ATR (20) | 4.25 | MEDIUM VOLATILITY | The ATR as a percentage value for MNRO suggests some volalility. |
| Average Directional Index/ADX (14) | 24.91 | NEUTRAL | The ADX value for MNRO suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 23.82 | 22.42 | 1.40 (5.88%) | 17.01% |
| An entry @23.82. This is a Buy Stop order right above the resistance zone. | An exit @22.42. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.40 points, which is 5.88%. | When investing 17.01% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of MNRO. 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.
22.79
+0.2 (+0.89%)
MONRO INC / MNRO FAQ
What is the ChartMill technical rating of MONRO INC (MNRO) stock?
ChartMill assigns a technical rating of 8 / 10 to MNRO.
What is the trend direction for MNRO stock?
The current trend direction for MONRO INC (MNRO) is Bullish.
What is the RSI signal for MONRO INC (MNRO) stock?
MONRO INC (MNRO) has an RSI value of 62.9143. This indicates that the stock is currently neutral.
What is the MACD signal for MNRO stock?
The MACD indicator for MONRO INC (MNRO) has a value of 0.213263, indicating a bearish trend.
What are the support and resistance levels for MONRO INC (MNRO) stock?
MONRO INC (MNRO) has a support level at 22.78 and a resistance level at 23.81. Check the full technical report for our detailed analysis of MNRO support and resistance levels.