MYRG Technical Analysis - MYR GROUP INC/DELAWARE

Technical Rating and Analysis

Overall MYRG gets a technical rating of 5 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

In the last month MYRG has a been trading in the 173.02 - 193.01 range, which is quite wide. It is currently trading near the lows of this range.

When comparing the yearly performance of all stocks, we notice that MYRG is one of the better performing stocks in the market, outperforming 89% of all stocks.

MYRG is one of the better performing stocks in the Construction & Engineering industry, it outperforms 78% of 52 stocks in the same industry.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

MYRG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MYRG is lagging the market.

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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

Although the technical rating is only medium, MYRG does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 175.61, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

116.91

194.48

When analyzing the support we can see 2 important areas.

A support zone ranging from 174.57 to 175.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @118.09 from a trend line in the weekly time frame.

We can see 3 important resistance areas.

A resistance zone ranging from 176.66 to 182.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 186.41 to 187.32. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @192.55 from a horizontal line in the daily 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	DOWN	NEGATIVE	The short term trend for MYRG is down.
ChartMill Relative Strength	89.45	POSITIVE	MYRG has a high relative strength, it outperformed 89.45% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MYRG is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MYRG is below a declining 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)	40.14	NEUTRAL	The RSI value for MYRG is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.93	NEGATIVE	The MACD value suggests MYRG has a negative trend.
Stochastics (14,3)	23.34	NEUTRAL	The Stochastics value for MYRG is a neutral value.
Average True Range in percent/ATR (20)	3.09	MEDIUM VOLATILITY	The ATR as a percentage value for MYRG suggests some volalility.
Average Directional Index/ADX (14)	16.98	NEGATIVE	The low ADX value for MYRG suggests a weak or negative trend.