MYRG Technical Analysis - MYR GROUP INC/DELAWARE

Technical Rating and Analysis

Taking everything into account, MYRG scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MYRG is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

Looking at the yearly performance, MYRG did better than 91% of all other stocks.

MYRG is part of the Construction & Engineering industry. There are 53 other stocks in this industry. MYRG outperforms 84% of them.

MYRG 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 MYRG is lagging the market slightly.

In the last month MYRG has a been trading in the 171.51 - 211.74 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MYR GROUP INC/DELAWARE / MYRG Weekly stock chart

MYR GROUP INC/DELAWARE / MYRG Daily stock chart

Setup Rating and Analysis

MYRG has an excellent technical rating, but the quality of the setup is only medium 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

118.56

205.31

3 important support areas can be observed.

A support zone ranging from 182.39 to 187.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 173.80 to 176.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @119.76 from a trend line in the weekly time frame.

When analyzing the resistance we notice one important area.

Resistance @203.28 from a horizontal line in the weekly time frame.

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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	UP	POSITIVE	The long term trend for MYRG is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MYRG is up.
ChartMill Relative Strength	91.2	POSITIVE	MYRG has a high relative strength, it outperformed 91.2% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MYRG is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of MYRG is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MYRG is above the rising SMA(200).
Relative Strength Index/RSI (14)	63.22	NEUTRAL	The RSI value for MYRG is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	2.72	POSITIVE	The MACD value suggests MYRG has a positive trend, although the MACD value is declining.
Stochastics (14,3)	81.84	OVERBOUGHT	The high Stochastics value suggests MYRG may be overbought.
Average True Range in percent/ATR (20)	3.6	MEDIUM VOLATILITY	The ATR as a percentage value for MYRG suggests some volalility.
Average Directional Index/ADX (14)	23.68	NEUTRAL	The ADX value for MYRG suggests a possible start of a new trend.