Summit Materials Inc (SUM) Stock Technical Analysis
USA - NYSE:SUM - US86614U1007 - Common Stock
Overall SUM gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SUM is showing a nice and steady performance.
Although SUM has an excellent technical rating, the quality of the presented setup is not ideal 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.
More info and screens
34.97
We found 4 important support areas.
- A support zone ranging from 50.34 to 52.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @39.06 from a trend line in the weekly time frame.
- Support @36.83 from a horizontal line in the daily time frame.
- Support @35.32 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 52.50 to 52.50. 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 SUM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SUM is up. |
| ChartMill Relative Strength | 84.31 | POSITIVE | SUM has a high relative strength, it outperformed 84.31% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SUM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SUM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SUM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 73.6 | OVERBOUGHT | The high RSI value suggests SUM may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests SUM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 66.94 | NEUTRAL | The Stochastics value for SUM is a neutral value. |
| Average True Range in percent/ATR (20) | 0.36 | LOW VOLATILITY | The low ATR as a percentage value for SUM suggests low volalility. |
| Average Directional Index/ADX (14) | 57.59 | POSITIVE | The high ADX value value for SUM suggests a strong trend. |
52.49
+0.04 (+0.08%)
Summit Materials Inc / SUM FAQ
What is the ChartMill technical rating of Summit Materials Inc (SUM) stock?
ChartMill assigns a technical rating of 8 / 10 to SUM.
What is the trend direction for SUM stock?
The current trend direction for Summit Materials Inc (SUM) is Bullish.
What is the RSI signal for Summit Materials Inc (SUM) stock?
Summit Materials Inc (SUM) has an RSI value of 73.5989. This indicates that the stock is currently overbought.
What is the short term momentum for SUM stock?
The short term momentum for Summit Materials Inc (SUM) is positive.
Can you provide the support and resistance levels for Summit Materials Inc?
Summit Materials Inc (SUM) has a support level at 52.38 and a resistance level at 52.5. Check the full technical report for our detailed analysis of SUM support and resistance levels.