WARNER MUSIC GROUP CORP-CL A (WMG) Stock Technical Analysis
NASDAQ:WMG - Nasdaq - US9345502036 - Common Stock - Currency: USD
We assign a technical rating of 5 out of 10 to WMG. 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.
71% of all other stocks performed better in the past year than WMG.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
In the last month WMG has a been trading in the 26.08 - 30.95 range, which is quite wide. It is currently trading near the high of this range.
WMG has an average volume of 1607340 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 47% of 72 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 an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
25.65
37.60
When analyzing the support we notice one important area.
- A support zone ranging from 25.91 to 26.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 3 important resistance areas.
- A resistance zone ranging from 30.32 to 30.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @31.86 from a horizontal line in the daily time frame.
- 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 | UP | POSITIVE | The short term trend for WMG is up. |
| ChartMill Relative Strength | 29.98 | NEGATIVE | WMG has a low relative strength, it was outperformed by 70.02% 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) | 72.7 | OVERBOUGHT | The high RSI value suggests WMG may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.3 | POSITIVE | The MACD value suggests WMG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 86.04 | OVERBOUGHT | The high Stochastics value suggests WMG may be overbought. |
| Average True Range in percent/ATR (20) | 2.34 | MEDIUM VOLATILITY | The ATR as a percentage value for WMG suggests some volalility. |
| Average Directional Index/ADX (14) | 32.27 | POSITIVE | The high ADX value value for WMG 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)
30.31
-0.15 (-0.49%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryEntertainment
Performance
% Chg-0.49%
1 Week2.78%
2 Weeks11.27%
1 Month15.07%
3 Month4.09%
6 Month0.23%
12 Month-5.28%
2 Year-3.93%
3 Year1.03%
5 Year0.53%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.81
ATR(20)%2.34%
ATR Inc19.39%
Range Today0.79
ADR(20)0.67
ADR(20)%2.2%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS29.98
Mansfield-0.72
10 Day High30.96
10 Day Low27.19
20 Day High30.96
20 Day Low26.08
52 Week High36.64
52 Week Low25.56
CS1 End26.22
CR1 Start30.32
Volume & EV
DER(3)0.52%
DER(5)-0.56%
Volume2.17M
Volume Incr0.75%
Vol(5)1.66M
Vol(50)1.61M