MYERS INDUSTRIES INC (MYE) Stock Technical Analysis
NYSE:MYE - New York Stock Exchange, Inc. - US6284641098 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to MYE. 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.
The long and short term trends are both positive. This is looking good!
MYE is one of the better performing stocks in the Containers & Packaging industry, it outperforms 90% of 22 stocks in the same industry.
MYE is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MYE is lagging the market slightly.
Looking at the yearly performance, MYE did better than 82% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
In the last month MYE has a been trading in the 14.38 - 15.77 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, MYE also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 15.18, a Stop Loss order could be placed below this zone. 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
13.84
15.80
We found 3 important support areas.
- A support zone ranging from 14.85 to 15.18. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 14.49 to 14.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 13.98 to 14.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 2 important resistance areas.
- Resistance @15.29 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 15.54 to 15.64. 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 | 82.96 | POSITIVE | MYE has a high relative strength, it outperformed 82.96% 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) | 56.73 | NEUTRAL | The RSI value for MYE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests MYE has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 60.4 | NEUTRAL | The Stochastics value for MYE is a neutral value. |
| Average True Range in percent/ATR (20) | 3.01 | MEDIUM VOLATILITY | The ATR as a percentage value for MYE suggests some volalility. |
| Average Directional Index/ADX (14) | 21.7 | NEUTRAL | The ADX value for MYE suggests a possible start of a new 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)
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 |
|---|---|---|---|
| 15.30 | 14.84 | 0.46 (3.01%) | 25.00% |
| An entry @15.30. This is a Buy Stop order right above the resistance zone. | An exit @14.84. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.46 points, which is 3.01%. | For a 0.75% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MYE. 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.
15.19
+0.25 (+1.67%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryContainers & Packaging
Performance
% Chg1.67%
1 Week3.9%
2 Weeks-1.49%
1 Month2.64%
3 Month47.48%
6 Month24.41%
12 Month3.12%
2 Year-22.54%
3 Year-37.57%
5 Year0.86%
10 Year0.4%
15 Year92.04%
Volatility
ATR(14)0.44
ATR(20)%3.01%
ATR Inc7.24%
Range Today0.49
ADR(20)0.44
ADR(20)%2.89%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS82.96
Mansfield0.95
10 Day High15.38
10 Day Low14.38
20 Day High15.77
20 Day Low14.38
52 Week High17.39
52 Week Low9.06
CS1 End15.18
CR1 Start15.29
Volume & EV
DER(3)2.77%
DER(5)2.11%
Volume198.62K
Volume Incr-11.02%
Vol(5)213.30K
Vol(50)235.58K