MTH Technical Analysis - MERITAGE HOMES CORP

Technical Rating and Analysis

Overall MTH gets a technical rating of 2 out of 10. In the last year, MTH was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.

When comparing the yearly performance of all stocks, MTH is a bad performer in the overall market: 83% of all stocks are doing better.

In the last month MTH has a been trading in the 72.62 - 84.73 range, which is quite wide. It is currently trading near the lows of this range.

MTH has an average volume of 1088700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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

MTH is part of the Household Durables industry. There are 63 other stocks in this industry, MTH did better than 40% of them.

MTH is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MTH is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MERITAGE HOMES CORP / MTH Weekly stock chart

MERITAGE HOMES CORP / MTH Daily stock chart

Setup Rating and Analysis

The technical rating of MTH 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

61.82

83.74

2 important support areas can be observed.

Support @63.61 from a horizontal line in the weekly time frame.
A support zone ranging from 62.44 to 62.53. This zone is formed by a combination of multiple trend lines in the daily time frame.

We can see 3 important resistance areas.

Resistance @73.42 from a trend line in the daily time frame.
A resistance zone ranging from 74.70 to 75.95. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 81.58 to 82.91. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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 MTH is neutral.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MTH is down.
ChartMill Relative Strength	17.1	NEGATIVE	MTH has a low relative strength, it was outperformed by 82.9% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MTH is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MTH is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MTH is below a declining SMA(200).
Relative Strength Index/RSI (14)	41.06	NEUTRAL	The RSI value for MTH is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.88	NEGATIVE	The MACD value suggests MTH has a negative trend.
Stochastics (14,3)	10.36	OVERSOLD	The low Stochastics value suggests MTH may be oversold.
Average True Range in percent/ATR (20)	3.29	MEDIUM VOLATILITY	The ATR as a percentage value for MTH suggests some volalility.
Average Directional Index/ADX (14)	20.89	NEUTRAL	The ADX value for MTH suggests a possible start of a new trend.