WEC ENERGY GROUP INC (WEC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:WEC - US92939U1060 - Common Stock
We assign a technical rating of 4 out of 10 to WEC. WEC has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- WEC has an average volume of 2000440 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, WEC outperforms 43% of them, which is more or less in line with the market.
- WEC is an average performer in the Multi-Utilities industry, it outperforms 48% of 26 stocks in the same industry.
- WEC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WEC is lagging the market.
- In the last month WEC has a been trading in a tight range between 103.00 and 108.90.
WEC has an average technical rating and also 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.
More info and screens
101.92
We found 1 important support area.
- A support zone ranging from 102.95 to 107.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- Resistance @109.76 from a horizontal line in the daily time frame.
- A resistance zone ranging from 116.84 to 117.50. 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 | NEUTRAL | NEUTRAL | The long term trend for WEC is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WEC is up. |
| ChartMill Relative Strength | 43.76 | NEUTRAL | WEC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WEC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of WEC is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of WEC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 61.8 | NEUTRAL | The RSI value for WEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.53 | POSITIVE | The MACD value suggests WEC has a positive trend. |
| Stochastics (14,3) | 92.93 | OVERBOUGHT | The high Stochastics value suggests WEC may be overbought. |
| Average True Range in percent/ATR (20) | 1.34 | LOW VOLATILITY | The low ATR as a percentage value for WEC suggests low volalility. |
| Average Directional Index/ADX (14) | 23.17 | NEUTRAL | The ADX value for WEC suggests a possible start of a new trend. |
108.59
+0.43 (+0.4%)
WEC ENERGY GROUP INC / WEC FAQ
What is the ChartMill technical rating of WEC ENERGY GROUP INC (WEC) stock?
ChartMill assigns a technical rating of 4 / 10 to WEC.
What is the trend direction for WEC stock?
The current trend direction for WEC ENERGY GROUP INC (WEC) is Bearish.
What is the RSI signal for WEC ENERGY GROUP INC (WEC) stock?
WEC ENERGY GROUP INC (WEC) has an RSI value of 61.7951. This indicates that the stock is currently neutral.
What is the support and resistance level for WEC stock?
WEC ENERGY GROUP INC (WEC) has a support level at 107.86 and a resistance level at 109.76. Check the full technical report for our detailed analysis of WEC support and resistance levels.