WEC ENERGY GROUP INC (WEC) Stock Technical Analysis
NYSE:WEC • US92939U1060
We assign a technical rating of 8 out of 10 to WEC. Although WEC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- The long and short term trends are both positive. This is looking good!
- 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 2303450 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 52% of them, which is more or less in line with the market.
- WEC is part of the Multi-Utilities industry. There are 26 other stocks in this industry, WEC did better than 52% of them.
- In the last month WEC has a been trading in the 107.87 - 117.34 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, WEC 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 116.84. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 113.63, a Stop Loss order could be placed below this zone.
More info and screens
101.22
We found 3 important support areas.
- A support zone ranging from 110.48 to 113.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 107.35 to 108.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 102.24 to 105.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- 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 | UP | POSITIVE | The short term trend for WEC is up. |
| ChartMill Relative Strength | 52.98 | 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) | 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) | 63.71 | NEUTRAL | The RSI value for WEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests WEC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 60.69 | NEUTRAL | The Stochastics value for WEC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.91 | LOW VOLATILITY | The low ATR as a percentage value for WEC suggests low volalility. |
| Average Directional Index/ADX (14) | 43.56 | 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 |
|---|---|---|---|
| 117.51 | 110.47 | 7.04 (5.99%) | 16.69% |
| An entry @117.51. This is a Buy Stop order right above the resistance zone. | An exit @110.47. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 7.04 points, which is 5.99%. | For a 1.00% total portfolio risk, you can invest 16.69% 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.
114.34
+0.12 (+0.11%)
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 8 / 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 63.706. This indicates that the stock is currently neutral.
What is the buy/sell signal for WEC stock?
The buy/sell signal for WEC ENERGY GROUP INC (WEC) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for WEC ENERGY GROUP INC?
WEC ENERGY GROUP INC (WEC) has a support level at 113.63 and a resistance level at 116.84. Check the full technical report for our detailed analysis of WEC support and resistance levels.