PMEC Technical Analysis - PRIMECH HOLDINGS LTD

Technical Rating and Analysis

Taking everything into account, PMEC scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, PMEC has proven to be a steady performer, scoring decent points in every aspect analyzed.

Both the short term and long term trends are positive. This is a very positive sign.

When comparing the yearly performance of all stocks, we notice that PMEC is one of the better performing stocks in the market, outperforming 96% of all stocks. On top of that, PMEC also shows a nice and consistent pattern of rising prices.

PMEC is one of the better performing stocks in the Commercial Services & Supplies industry, it outperforms 96% of 84 stocks in the same industry.

PMEC 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 PMEC is lagging the market slightly.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

In the last month PMEC has a been trading in the 1.61 - 2.44 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

PRIMECH HOLDINGS LTD / PMEC Weekly stock chart

PRIMECH HOLDINGS LTD / PMEC Daily stock chart

Setup Rating and Analysis

Although PMEC has an excellent technical rating, it does not offer a high quality setup 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

1.40

2.10

3 important support areas can be observed.

A support zone ranging from 1.71 to 1.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @1.54 from a trend line in the daily time frame.
Support @1.41 from a trend 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 PMEC is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for PMEC is up.
ChartMill Relative Strength	96.46	POSITIVE	PMEC has a high relative strength, it outperformed 96.46% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of PMEC is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of PMEC is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of PMEC is above the rising SMA(200).
Relative Strength Index/RSI (14)	63.91	NEUTRAL	The RSI value for PMEC is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.04	POSITIVE	The MACD value suggests PMEC has a positive trend.
Stochastics (14,3)	66.45	NEUTRAL	The Stochastics value for PMEC is a neutral value.
Average True Range in percent/ATR (20)	6.29	HIGH VOLATILITY	The high ATR as a percentage value for PMEC suggests high volalility.
Average Directional Index/ADX (14)	23.39	NEUTRAL	The ADX value for PMEC suggests a possible start of a new trend.