MYERS INDUSTRIES INC (MYE) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:MYE • US6284641098
Overall MYE gets a technical rating of 10 out of 10. Both in the recent history as in the last year, MYE has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, MYE did better than 93% of all other stocks. On top of that, MYE also shows a nice and consistent pattern of rising prices.
- MYE is one of the better performing stocks in the Containers & Packaging industry, it outperforms 90% of 22 stocks in the same industry.
- A new 52 week high is currently being made by MYE, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
- In the last month MYE has a been trading in the 19.43 - 22.38 range, which is quite wide. It is currently trading near the high of this range.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although MYE has an excellent technical rating, it does not present a decent entry opportunity 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.
More info and screens
15.57
We found 3 important support areas.
- A support zone ranging from 19.63 to 20.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @18.85 from a trend line in the daily time frame.
- Support @15.73 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 22.25 to 22.25. 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 MYE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MYE is up. |
| ChartMill Relative Strength | 93.29 | POSITIVE | MYE has a high relative strength, it outperformed 93.29% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MYE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MYE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MYE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 74.47 | OVERBOUGHT | The high RSI value suggests MYE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.14 | POSITIVE | The MACD value suggests MYE has a positive trend. |
| Stochastics (14,3) | 90.36 | OVERBOUGHT | The high Stochastics value suggests MYE may be overbought. |
| Average True Range in percent/ATR (20) | 2.5 | MEDIUM VOLATILITY | The ATR as a percentage value for MYE suggests some volalility. |
| Average Directional Index/ADX (14) | 21.46 | NEUTRAL | The ADX value for MYE suggests a possible start of a new trend. |
22.24
+0.07 (+0.32%)
MYERS INDUSTRIES INC / MYE FAQ
Can you provide the ChartMill technical rating for MYERS INDUSTRIES INC?
ChartMill assigns a technical rating of 10 / 10 to MYE.
What is the trend direction for MYE stock?
The current trend direction for MYERS INDUSTRIES INC (MYE) is Bullish.
What is the RSI signal for MYE stock?
MYERS INDUSTRIES INC (MYE) has an RSI value of 74.4672. This indicates that the stock is currently overbought.
What is the MACD signal for MYERS INDUSTRIES INC (MYE) stock?
The MACD indicator for MYERS INDUSTRIES INC (MYE) has a value of 0.1441, indicating a bearish trend.
What is the short term momentum for MYERS INDUSTRIES INC (MYE) stock?
The short term momentum for MYERS INDUSTRIES INC (MYE) is positive.