ENCORE WIRE CORP (WIRE)

US2925621052 - Common Stock

289.15  +0.15 (+0.05%)

Technical Rating and Analysis

10

Taking everything into account, WIRE scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, WIRE is showing a nice and steady performance.

Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that WIRE is one of the better performing stocks in the market, outperforming 95% of all stocks. On top of that, WIRE also shows a nice and consistent pattern of rising prices.
WIRE is part of the Electrical Equipment industry. There are 87 other stocks in this industry. WIRE outperforms 93% of them.
WIRE is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
WIRE is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
In the last month WIRE has a been trading in a tight range between 276.00 and 289.35.
Weekly and Daily overview Charts
WIRE Weekly chart
WIRE Daily chart
Setup Rating and Analysis

7

WIRE 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 289.01. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 288.68, a Stop Loss order could be placed below this zone.

Support and Resistance Analysis

198.17

294.15

4 important support areas can be observed.

  • A support zone ranging from 273.69 to 289.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @251.65 from a trend line in the daily time frame.
  • Support @213.60 from a horizontal line in the daily time frame.
  • Support @200.17 from a trend line in the weekly time frame.

We found 1 important resistance area.

  • A resistance zone ranging from 289.25 to 291.24. This zone is formed by a combination of multiple trend lines in multiple time frames.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS95.18
Mansfield2.04
10 Day High289.35
10 Day Low288
20 Day High289.35
20 Day Low276
52 Week High295.9
52 Week Low150.51
Performance
1 Week0.08%
2 Weeks4.01%
1 Month3.03%
3 Month28.08%
6 Month36.77%
12 Month66.03%
2 Year178.1%
3 Year281.32%
5 Year393.34%
10 Year489.32%
15 Year1253.63%
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)0.09
RSI(14)68.07
LBB275.54
UBB295.52
Example Setup

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.

ENTRYEXITDISTANCECAPITAL
291.25287.993.26 (1.12%)25.00%
An entry @291.25. This is a Buy Stop order right above the resistance zone.An exit @287.99. This is a Stop Loss order right below the 10 day low.The trade has a worst case loss of 3.26 points, which is 1.12%.For a 0.28% 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.
WIRE Daily chart

ENCORE WIRE CORP

NASDAQ:WIRE (6/12/2024, 1:59:31 PM)

289.15

+0.15 (+0.05%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryElectrical Equipment
Performance
% Chg0.05%
1 Week0.08%
2 Weeks4.01%
1 Month3.03%
3 Month28.08%
6 Month36.77%
12 Month66.03%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)2.11
ATR(20)%0.77%
ATR Inc
Range Today0.55
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High289.35
10 Day Low288
20 Day High289.35
20 Day Low276
52 Week High295.9
52 Week Low150.51
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume309.38K
Volume Incr62.12%
Vol(5)460.12K
Vol(50)385.34K