FIRST WESTERN FINANCIAL INC (MYFW) Stock Technical Analysis
NASDAQ:MYFW - Nasdaq - US33751L1052 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to MYFW. In the last year, MYFW was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month MYFW has a been trading in the 20.11 - 23.71 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
When comparing the yearly performance of all stocks, we notice that MYFW is one of the better performing stocks in the market, outperforming 83% of all stocks.
MYFW is part of the Banks industry. There are 396 other stocks in this industry. MYFW outperforms 74% of them.
MYFW is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MYFW is lagging the market slightly.
MYFW has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 20.70, a Stop Loss order could be placed below this zone.
More info and screens
17.36
22.84
When analyzing the support we can see 4 important areas.
- A support zone ranging from 20.00 to 20.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @18.59 from a trend line in the weekly time frame.
- Support @17.93 from a horizontal line in the weekly time frame.
- Support @17.54 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 21.05 to 21.07. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 22.21 to 22.61. 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 MYFW is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MYFW is neutral. |
| ChartMill Relative Strength | 83.75 | POSITIVE | MYFW has a high relative strength, it outperformed 83.75% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MYFW is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MYFW is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MYFW is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.53 | NEUTRAL | The RSI value for MYFW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.2 | NEGATIVE | The MACD value suggests MYFW has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 20.09 | NEUTRAL | The Stochastics value for MYFW is a neutral value. |
| Average True Range in percent/ATR (20) | 4.19 | MEDIUM VOLATILITY | The ATR as a percentage value for MYFW suggests some volalility. |
| Average Directional Index/ADX (14) | 28.58 | POSITIVE | The high ADX value value for MYFW suggests a strong 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 |
|---|---|---|---|
| 21.08 | 20.10 | 0.98 (4.65%) | 21.51% |
| An entry @21.08. This is a Buy Stop order right above the resistance zone. | An exit @20.10. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.98 points, which is 4.65%. | For a 1.00% total portfolio risk, you can invest 21.51% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MYFW. 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.
20.9
+0.13 (+0.63%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.63%
1 Week0.29%
2 Weeks-2.84%
1 Month-2.34%
3 Month9.54%
6 Month-2.29%
12 Month25.9%
2 Year12.37%
3 Year-23.13%
5 Year46.67%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.87
ATR(20)%4.19%
ATR Inc-43.12%
Range Today0.62
ADR(20)0.85
ADR(20)%4.05%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS83.75
Mansfield0.24
10 Day High23.71
10 Day Low20.11
20 Day High23.71
20 Day Low20.11
52 Week High23.71
52 Week Low15.54
CS1 End20.7
CR1 Start21.05
Volume & EV
DER(3)-7.64%
DER(5)-6.31%
Volume38.20K
Volume Incr32.51%
Vol(5)58.04K
Vol(50)44.24K