WEC ENERGY GROUP INC (WEC) Stock Technical Analysis
NYSE:WEC - New York Stock Exchange, Inc. - US92939U1060 - Common Stock - Currency: USD
We assign a technical rating of 8 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.
WEC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 108.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 106.23, a Stop Loss order could be placed below this zone.
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91.20
When analyzing the support we can see 2 important areas.
- A support zone ranging from 103.80 to 106.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 92.12 to 93.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 108.62 to 109.76. 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 | NEUTRAL | NEUTRAL | The short term trend for WEC is neutral. |
| ChartMill Relative Strength | 82.23 | POSITIVE | WEC has a high relative strength, it outperformed 82.23% off all stocks 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 | NEGATIVE | The current price of WEC is below a declining 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) | 50.55 | NEUTRAL | The RSI value for WEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests WEC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 43.43 | NEUTRAL | The Stochastics value for WEC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.48 | LOW VOLATILITY | The low ATR as a percentage value for WEC suggests low volalility. |
| Average Directional Index/ADX (14) | 13.03 | NEGATIVE | The low ADX value for WEC suggests a weak or negative 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 |
|---|---|---|---|
| 107.70 | 104.13 | 3.58 (3.32%) | 25.00% |
| An entry @107.70. This is a Buy Stop order right above the 10 day high. | An exit @104.13. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 3.58 points, which is 3.32%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.83%. |
- 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.
106.44
+0.86 (+0.81%)