ENCORE WIRE CORP (WIRE) Stock Technical Analysis
NASDAQ:WIRE - Nasdaq - US2925621052 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to WIRE. Both in the recent history as in the last year, WIRE has proven to be a steady performer, scoring decent points in every aspect analyzed.
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 92% of all stocks. We also observe that the gains produced by WIRE over the past year are nicely spread over this period.
WIRE is part of the Electrical Equipment industry. There are 94 other stocks in this industry. WIRE outperforms 86% 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.
In the last month WIRE has a been trading in a tight range between 288.40 and 289.99.
Volume is considerably higher in the last couple of days.
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 289.85. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
188.35
294.89
We found 6 important support areas.
- A support zone ranging from 284.80 to 289.54. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 276.93 to 279.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @258.51 from a trend line in the daily time frame.
- Support @213.60 from a horizontal line in the daily time frame.
- Support @203.06 from a trend line in the weekly time frame.
- Support @190.25 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 289.85 to 291.97. 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 WIRE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WIRE is up. |
| ChartMill Relative Strength | 92.8 | POSITIVE | WIRE has a high relative strength, it outperformed 92.8% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WIRE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WIRE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WIRE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.23 | OVERBOUGHT | The high RSI value suggests WIRE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.39 | NEGATIVE | The MACD value suggests WIRE has a negative trend. |
| Stochastics (14,3) | 89.61 | OVERBOUGHT | The high Stochastics value suggests WIRE may be overbought. |
| Average True Range in percent/ATR (20) | 0.12 | LOW VOLATILITY | The low ATR as a percentage value for WIRE suggests low volalility. |
| Average Directional Index/ADX (14) | 33.84 | POSITIVE | The high ADX value value for WIRE suggests a strong trend. |
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)
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 |
|---|---|---|---|
| 290.00 | 289.03 | 0.97 (0.33%) | 25.00% |
| An entry @290.00. This is a Buy Stop order right above the 10 day high. | An exit @289.03. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.97 points, which is 0.33%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.08%. |
- 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.
289.84
0.01 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryElectrical Equipment
Performance
% Chg0%
1 Week0.09%
2 Weeks0.27%
1 Month0.38%
3 Month7.89%
6 Month34.89%
12 Month64.49%
2 Year109.32%
3 Year269.55%
5 Year427.75%
10 Year591.08%
15 Year1236.28%
Volatility
ATR(14)0.32
ATR(20)%0.12%
ATR Inc-22.38%
Range Today0.34
ADR(20)0.35
ADR(20)%0.12%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.8
Mansfield1.67
10 Day High289.99
10 Day Low289.04
20 Day High289.99
20 Day Low288.4
52 Week High295.9
52 Week Low150.51
CS1 End289.54
CR1 Start289.85
Volume & EV
DER(3)-1.15%
DER(5)-0.95%
Volume1.39M
Volume Incr82.62%
Vol(5)889.18K
Vol(50)418.19K