WARNER MUSIC GROUP CORP-CL A (WMG) Stock Technical Analysis
NASDAQ:WMG • US9345502036
Taking everything into account, WMG scores 2 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. WMG was also a bad performer in the overall market in the last year.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When comparing the yearly performance of all stocks, WMG is a bad performer in the overall market: 79% of all stocks are doing better.
- In the last month WMG has a been trading in the 26.42 - 31.20 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- WMG has an average volume of 2412350 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- WMG is an average performer in the Entertainment industry, it outperforms 48% of 80 stocks in the same industry.
- WMG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WMG is lagging the market.
WMG has a bad technical rating, but it does show 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 30.51. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 29.79, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WMG in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
27.33
3 important support areas can be observed.
- A support zone ranging from 29.51 to 29.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 28.16 to 28.33. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @27.61 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 30.51 to 30.74. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @32.37 from a trend line in the weekly time frame.
- A resistance zone ranging from 33.86 to 34.25. 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 | DOWN | NEGATIVE | The long term trend for WMG is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WMG is neutral. |
| ChartMill Relative Strength | 21.47 | NEGATIVE | WMG has a low relative strength, it was outperformed by 78.53% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WMG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WMG is above the rising 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) | 52.17 | NEUTRAL | The RSI value for WMG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests WMG has a positive trend. |
| Stochastics (14,3) | 63.46 | NEUTRAL | The Stochastics value for WMG is a neutral value. |
| Average True Range in percent/ATR (20) | 3.8 | MEDIUM VOLATILITY | The ATR as a percentage value for WMG suggests some volalility. |
| Average Directional Index/ADX (14) | 17.15 | NEGATIVE | The low ADX value for WMG suggests a weak or negative trend. |
29.89
+0.68 (+2.33%)
WARNER MUSIC GROUP CORP-CL A / WMG FAQ
What is the technical rating for WMG stock?
ChartMill assigns a technical rating of 2 / 10 to WMG.
What is the current trend direction of WARNER MUSIC GROUP CORP-CL A (WMG) stock?
The current trend direction for WARNER MUSIC GROUP CORP-CL A (WMG) is Bearish.
What is the RSI signal for WMG stock?
WARNER MUSIC GROUP CORP-CL A (WMG) has an RSI value of 52.1706. This indicates that the stock is currently neutral.
Can you provide the MACD signal for WARNER MUSIC GROUP CORP-CL A?
The MACD indicator for WARNER MUSIC GROUP CORP-CL A (WMG) has a value of 0.0289054, indicating a bearish trend.