SILGAN HOLDINGS INC (SLGN) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:SLGN - US8270481091 - Common Stock
Taking everything into account, SLGN scores 4 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. SLGN was also a bad performer in the overall market in the last year.
- When comparing the yearly performance of all stocks, SLGN is a bad performer in the overall market: 75% of all stocks are doing better.
- SLGN is part of the Containers & Packaging industry. There are 22 other stocks in this industry, of which 66% are performing better than SLGN.
- In the last month SLGN has a been trading in the 40.16 - 43.75 range, which is quite wide. It is currently trading near the high of this range.
- The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
- SLGN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SLGN is lagging the market.
Although the technical rating is only medium, SLGN does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 43.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 42.86, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SLGN in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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37.17
2 important support areas can be observed.
- A support zone ranging from 42.05 to 42.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 37.55 to 37.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 43.38 to 43.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @55.02 from a horizontal line in the weekly time frame.
- Resistance @57.53 from a horizontal line in the weekly time frame.
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 | DOWN | NEGATIVE | The long term trend for SLGN is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SLGN is up. |
| ChartMill Relative Strength | 25.72 | NEGATIVE | SLGN has a low relative strength, it was outperformed by 74.28% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SLGN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SLGN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SLGN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 62.2 | NEUTRAL | The RSI value for SLGN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests SLGN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 86.2 | OVERBOUGHT | The high Stochastics value suggests SLGN may be overbought. |
| Average True Range in percent/ATR (20) | 2.13 | MEDIUM VOLATILITY | The ATR as a percentage value for SLGN suggests some volalility. |
| Average Directional Index/ADX (14) | 18.29 | NEGATIVE | The low ADX value for SLGN suggests a weak or negative trend. |
43.25
-0.12 (-0.28%)
SILGAN HOLDINGS INC / SLGN FAQ
What is the technical rating for SLGN stock?
ChartMill assigns a technical rating of 4 / 10 to SLGN.
What is the current trend direction of SILGAN HOLDINGS INC (SLGN) stock?
The current trend direction for SILGAN HOLDINGS INC (SLGN) is Bearish.
What is the RSI signal for SILGAN HOLDINGS INC (SLGN) stock?
SILGAN HOLDINGS INC (SLGN) has an RSI value of 62.2035. This indicates that the stock is currently neutral.
What is the buy/sell signal for SILGAN HOLDINGS INC (SLGN) stock?
The buy/sell signal for SILGAN HOLDINGS INC (SLGN) is hold as the short term and long term trends are mixed.
What is the support and resistance level for SLGN stock?
SILGAN HOLDINGS INC (SLGN) has a support level at 42.86 and a resistance level at 43.38. Check the full technical report for our detailed analysis of SLGN support and resistance levels.