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PNM RESOURCES INC (PNM) Stock Technical Analysis

NYSE:PNM - New York Stock Exchange, Inc. - US69349H1077 - Common Stock - Currency: USD

41.77  -0.44 (-1.04%)

After market: 41.77 0 (0%)

Technical Rating and Analysis

8

Taking everything into account, PNM scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, PNM is only an average performer.

Both the short term and long term trends are positive. This is a very positive sign.
In the last month PNM has a been trading in the 35.89 - 42.31 range, which is quite wide. It is currently trading near the high of this range.
When compared to the yearly performance of all other stocks, PNM outperforms 50% of them, which is more or less in line with the market.
PNM is an average performer in the Electric Utilities industry, it outperforms 47% of 47 stocks in the same industry.
PNM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PNM is lagging the market.
Weekly and Daily overview Charts
PNM RESOURCES INC / PNM Weekly stock chart
PNM RESOURCES INC / PNM Daily stock chart
Setup Rating and Analysis

5

PNM 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.

Support and Resistance Analysis

34.39

42.64

When analyzing the support we can see 3 important areas.

  • Support @37.20 from a horizontal line in the daily time frame.
  • A support zone ranging from 35.63 to 35.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @34.74 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

  • A resistance zone ranging from 41.78 to 42.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
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.

IndicatorValueSignalComment
ChartMill Long Term Trend IndicatorUPPOSITIVEThe long term trend for PNM is up.
ChartMill Short Term Trend IndicatorUPPOSITIVEThe short term trend for PNM is up.
ChartMill Relative Strength50.32NEUTRALPNM is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)UPPOSITIVEThe current price of PNM is above the rising SMA(20).
Simple Moving Average/SMA (50)UPPOSITIVEThe current price of PNM is above the rising SMA(50).
Simple Moving Average/SMA (200)DOWNMIXEDThe current price of PNM is above a declining SMA(200).
Relative Strength Index/RSI (14)72.75OVERBOUGHTThe high RSI value suggests PNM may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)0.19POSITIVEThe MACD value suggests PNM has a positive trend, although the MACD value is declining.
Stochastics (14,3)91.24OVERBOUGHTThe high Stochastics value suggests PNM may be overbought.
Average True Range in percent/ATR (20)1.87LOW VOLATILITYThe low ATR as a percentage value for PNM suggests low volalility.
Average Directional Index/ADX (14)26.03POSITIVEThe high ADX value value for PNM suggests a strong trend.
Chart- and CandleStick Pattern Analysis
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)
PNM RESOURCES INC / PNM Daily stock chart

PNM RESOURCES INC

NYSE:PNM (8/2/2024, 8:26:38 PM)

After market: 41.77 0 (0%)

41.77

-0.44 (-1.04%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryElectric Utilities
Performance
% Chg-1.04%
1 Week2.43%
2 Weeks5.03%
1 Month15.29%
3 Month10.56%
6 Month17.2%
12 Month-5.77%
2 Year-11.93%
3 Year-15.62%
5 Year-18.11%
10 Year59.37%
15 Year257.62%
Volatility
ATR(14)0.81
ATR(20)%1.87%
ATR Inc15.22%
Range Today0.95
ADR(20)0.75
ADR(20)%1.78%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS50.32
Mansfield-0.53
10 Day High42.31
10 Day Low39.83
20 Day High42.31
20 Day Low35.89
52 Week High45.1
52 Week Low34.63
CS1 End37.2
CR1 Start41.78
Volume & EV
DER(3)0.24%
DER(5)2.09%
Volume512.30K
Volume Incr15.46%
Vol(5)808.58K
Vol(50)728.49K