MYERS INDUSTRIES INC (MYE) Stock Technical Analysis
NYSE:MYE • US6284641098
We assign a technical rating of 10 out of 10 to MYE. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MYE is showing a nice and steady performance.
- In the last month MYE has a been trading in the 20.72 - 23.14 range, which is quite wide. It is currently trading near the lows of this range.
- The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
- When comparing the yearly performance of all stocks, we notice that MYE is one of the better performing stocks in the market, outperforming 89% of all stocks. On top of that, MYE also shows a nice and consistent pattern of rising prices.
- MYE is part of the Containers & Packaging industry. There are 22 other stocks in this industry. MYE outperforms 95% of them.
- MYE is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so MYE is performing more or less in line with the market.
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
18.42
We found 3 important support areas.
- A support zone ranging from 21.30 to 21.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @19.42 from a trend line in the daily time frame.
- Support @18.61 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 22.15 to 22.79. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The short term trend for MYE is neutral. |
| ChartMill Relative Strength | 89.57 | POSITIVE | MYE has a high relative strength, it outperformed 89.57% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MYE is below 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) | 47.84 | NEUTRAL | The RSI value for MYE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.15 | NEGATIVE | The MACD value suggests MYE has a negative trend. |
| Stochastics (14,3) | 41.17 | NEUTRAL | The Stochastics value for MYE is a neutral value. |
| Average True Range in percent/ATR (20) | 3.28 | MEDIUM VOLATILITY | The ATR as a percentage value for MYE suggests some volalility. |
| Average Directional Index/ADX (14) | 23.25 | NEUTRAL | The ADX value for MYE suggests a possible start of a new trend. |
21.51
-0.55 (-2.49%)
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 47.8361. This indicates that the stock is currently neutral.
What is the MACD signal for MYERS INDUSTRIES INC (MYE) stock?
The MACD indicator for MYERS INDUSTRIES INC (MYE) has a value of -0.153376, 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 neutral.