WEC ENERGY GROUP INC (WEC) Technical Analysis
NYSE:WEC • US92939U1060
We assign a technical rating of 6 out of 10 to WEC. In the last year, WEC was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- WEC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so WEC is lagging the market slightly.
- WEC has an average volume of 2312680 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 61% of them, which is more or less in line with the market.
- WEC is an average performer in the Multi-Utilities industry, it outperforms 56% of 26 stocks in the same industry.
- In the last month WEC has a been trading in a tight range between 112.08 and 117.60.
Although the technical rating is only medium, WEC does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 112.21, a Stop Loss order could be placed below this zone.
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102.45
3 important support areas can be observed.
- A support zone ranging from 111.24 to 112.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @108.39 from a trend line in the weekly time frame.
- A support zone ranging from 103.48 to 106.44. 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 115.31 to 117.55. This zone is formed by a combination of multiple trend lines and important moving averages 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 | 61.07 | NEUTRAL | WEC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of WEC is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WEC is above 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) | 46.12 | NEUTRAL | The RSI value for WEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.48 | NEGATIVE | The MACD value suggests WEC has a negative trend. |
| Stochastics (14,3) | 32.34 | NEUTRAL | The Stochastics value for WEC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.75 | LOW VOLATILITY | The low ATR as a percentage value for WEC suggests low volalility. |
| Average Directional Index/ADX (14) | 26.67 | POSITIVE | The high ADX value value for WEC suggests a strong 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 |
|---|---|---|---|
| 115.84 | 112.91 | 2.93 (2.53%) | 25.00% |
| An entry @115.84. This is a Buy Stop order right above the 10 day moving average. | An exit @112.91. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 2.93 points, which is 2.53%. | For a 0.63% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
WEC Technicals: Chart, Performance Metrics, Trend & Indicators
113.3
-1.2 (-1.05%)
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.
What is the trend direction for WEC stock?
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 46.1178. 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 112.21 and a resistance level at 115.31. Check the full technical report for our detailed analysis of WEC support and resistance levels.