WEC ENERGY GROUP INC (WEC) Stock Technical Analysis
USA - NYSE:WEC - US92939U1060 - Common Stock
We assign a technical rating of 6 out of 10 to WEC. In the last year, WEC was one of the better performers, but we do observe some doubts in the very recent evolution.
Although the technical rating is only medium, WEC 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 111.90. Right above this resistance zone may be a good entry point.
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101.22
3 important support areas can be observed.
- A support zone ranging from 110.89 to 111.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 106.44 to 108.74. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 102.24 to 104.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 111.90 to 113.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- 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 | UP | POSITIVE | The long term trend for WEC is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for WEC is down. |
| ChartMill Relative Strength | 72.44 | POSITIVE | WEC has a high relative strength, it outperformed 72.44% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of WEC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of WEC is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WEC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 45.47 | NEUTRAL | The RSI value for WEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.25 | NEGATIVE | The MACD value suggests WEC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.31 | NEUTRAL | The Stochastics value for WEC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.6 | LOW VOLATILITY | The low ATR as a percentage value for WEC suggests low volalility. |
| Average Directional Index/ADX (14) | 24.76 | NEUTRAL | The ADX value for WEC suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 113.32 | 110.88 | 2.44 (2.15%) | 25.00% |
| An entry @113.32. This is a Buy Stop order right above the resistance zone. | An exit @110.88. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.44 points, which is 2.15%. | For a 0.54% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of WEC. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
111.89
+0.92 (+0.83%)
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 6 / 10 to WEC.
Can you provide the trend direction for WEC ENERGY GROUP INC?
The current trend direction for WEC ENERGY GROUP INC (WEC) is Bullish.
What is the RSI signal for WEC ENERGY GROUP INC (WEC) stock?
WEC ENERGY GROUP INC (WEC) has an RSI value of 45.4715. This indicates that the stock is currently neutral.
What is the short term momentum for WEC stock?
The short term momentum for WEC ENERGY GROUP INC (WEC) is negative.
Can you provide the support and resistance levels for WEC ENERGY GROUP INC?
WEC ENERGY GROUP INC (WEC) has a support level at 111.86 and a resistance level at 111.9. Check the full technical report for our detailed analysis of WEC support and resistance levels.