ENCORE WIRE CORP (WIRE) Technical Analysis
NASDAQ:WIRE • US2925621052
Current stock price
WIRE Technical Rating and Analysis
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.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, WIRE did better than 92% of all other 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 91 other stocks in this industry. WIRE outperforms 78% of them.
- WIRE is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so WIRE is leading 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 Weekly and Daily overview Charts
WIRE Setup Rating and Analysis
Besides having an excellent technical rating, WIRE also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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. Another positive sign is the recent Pocket Pivot signal.
- 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
WIRE Support and Resistance Analysis
188.35
6 important support areas can be observed.
- 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.
WIRE Technical Indicator Signal Analysis
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. |
WIRE Chart- and CandleStick Pattern Analysis
WIRE 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.
| 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%. | For a 0.08% 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 Technicals: Chart, Performance Metrics, Trend & Indicators
289.84
0.01 (0%)
ENCORE WIRE CORP / WIRE TA FAQ
Can you provide the ChartMill technical rating for ENCORE WIRE CORP?
ChartMill assigns a technical rating of 10 / 10 to WIRE.
Can you provide the trend direction for ENCORE WIRE CORP?
The current trend direction for ENCORE WIRE CORP (WIRE) is Bullish.
What is the RSI signal for ENCORE WIRE CORP (WIRE) stock?
ENCORE WIRE CORP (WIRE) has an RSI value of 70.2251. This indicates that the stock is currently overbought.
What is the short term momentum for WIRE stock?
The short term momentum for ENCORE WIRE CORP (WIRE) is positive.
Can you provide the support and resistance levels for ENCORE WIRE CORP?
ENCORE WIRE CORP (WIRE) has a support level at 289.54 and a resistance level at 289.85. Check the full technical report for our detailed analysis of WIRE support and resistance levels.