WARNER MUSIC GROUP CORP-CL A (WMG) Stock Technical Analysis
USA - NASDAQ:WMG - US9345502036 - Common Stock
Overall WMG gets a technical rating of 0 out of 10. WMG scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, WMG does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 30.26, a Stop Loss order could be placed below this zone.
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29.66
When analyzing the support we notice one important area.
- A support zone ranging from 29.96 to 30.26. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 32.41 to 32.53. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 33.41 to 34.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @37.23 from a horizontal line in the weekly time frame.
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 | NEUTRAL | NEUTRAL | The long term trend for WMG is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for WMG is down. |
| ChartMill Relative Strength | 26.35 | NEGATIVE | WMG has a low relative strength, it was outperformed by 73.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of WMG is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of WMG is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of WMG is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 38.95 | NEUTRAL | The RSI value for WMG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests WMG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 28.01 | NEUTRAL | The Stochastics value for WMG is a neutral value. |
| Average True Range in percent/ATR (20) | 2.59 | MEDIUM VOLATILITY | The ATR as a percentage value for WMG suggests some volalility. |
| Average Directional Index/ADX (14) | 28.88 | POSITIVE | The high ADX value value for WMG suggests a strong trend. |
30.355
+0.02 (+0.05%)
WARNER MUSIC GROUP CORP-CL A / WMG FAQ
What is the technical rating for WMG stock?
ChartMill assigns a technical rating of 0 / 10 to WMG.
Can you provide the trend direction for WARNER MUSIC GROUP CORP-CL A?
The current trend direction for WARNER MUSIC GROUP CORP-CL A (WMG) is Bearish.
What is the RSI signal for WARNER MUSIC GROUP CORP-CL A (WMG) stock?
WARNER MUSIC GROUP CORP-CL A (WMG) has an RSI value of 38.9484. This indicates that the stock is currently neutral.
What is the MACD signal for WMG stock?
The MACD indicator for WARNER MUSIC GROUP CORP-CL A (WMG) has a value of -0.0410657, indicating a bearish trend.
What is the support and resistance level for WMG stock?
WARNER MUSIC GROUP CORP-CL A (WMG) has a support level at 30.26 and a resistance level at 32.41. Check the full technical report for our detailed analysis of WMG support and resistance levels.