PNM RESOURCES INC (PNM) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:PNM - US69349H1077 - Common Stock
Overall PNM gets a technical rating of 8 out of 10. 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.
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.
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34.39
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.
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 PNM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PNM is up. |
| ChartMill Relative Strength | 50.32 | NEUTRAL | PNM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PNM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PNM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of PNM is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 72.75 | OVERBOUGHT | The high RSI value suggests PNM may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.19 | POSITIVE | The MACD value suggests PNM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.24 | OVERBOUGHT | The high Stochastics value suggests PNM may be overbought. |
| Average True Range in percent/ATR (20) | 1.87 | LOW VOLATILITY | The low ATR as a percentage value for PNM suggests low volalility. |
| Average Directional Index/ADX (14) | 26.03 | POSITIVE | The high ADX value value for PNM suggests a strong trend. |
41.77
-0.44 (-1.04%)
PNM RESOURCES INC / PNM FAQ
Can you provide the ChartMill technical rating for PNM RESOURCES INC?
ChartMill assigns a technical rating of 8 / 10 to PNM.
What is the trend direction for PNM stock?
The current trend direction for PNM RESOURCES INC (PNM) is Bullish.
Can you provide the RSI signal for PNM RESOURCES INC?
PNM RESOURCES INC (PNM) has an RSI value of 72.7519. This indicates that the stock is currently overbought.
What is the MACD signal for PNM RESOURCES INC (PNM) stock?
The MACD indicator for PNM RESOURCES INC (PNM) has a value of 0.1898, indicating a bearish trend.
What is the support and resistance level for PNM stock?
PNM RESOURCES INC (PNM) has a support level at 37.2 and a resistance level at 41.78. Check the full technical report for our detailed analysis of PNM support and resistance levels.