Summit Materials Inc (SUM) Technical Analysis
NYSE:SUM • US86614U1007
Current stock price
SUM Technical Rating and Analysis
We assign a technical rating of 8 out of 10 to SUM. 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.
- The long and short term trends are both positive. This is looking good!
- SUM is one of the better performing stocks in the Construction Materials industry, it outperforms 91% of 13 stocks in the same industry.
- SUM is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- SUM has an average volume of 3663930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, SUM did better than 84% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
- In the last month SUM has a been trading in a tight range between 52.04 and 54.07.
SUM Weekly and Daily overview Charts
SUM Setup Rating and Analysis
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
SUM Support and Resistance Analysis
34.97
4 important support areas can be observed.
- 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.
SUM 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 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. |
SUM Chart- and CandleStick Pattern Analysis
SUM Technicals: Chart, Performance Metrics, Trend & Indicators
52.49
+0.04 (+0.08%)
Summit Materials Inc / SUM TA FAQ
What is the ChartMill technical rating of Summit Materials Inc (SUM) stock?
ChartMill assigns a technical rating of 8 / 10 to SUM.
Can you provide the trend direction for Summit Materials Inc?
The current trend direction for Summit Materials Inc (SUM) is Bullish.
Can you provide the RSI signal for Summit Materials Inc?
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 Summit Materials Inc (SUM) stock?
The short term momentum for Summit Materials Inc (SUM) is positive.
What are the support and resistance levels for Summit Materials Inc (SUM) stock?
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.