WS Technical Analysis - WORTHINGTON STEEL INC

Technical Rating and Analysis

We assign a technical rating of 7 out of 10 to WS. Although WS is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

WS is one of the lesser performing stocks in the Metals & Mining industry. 64% of 156 stocks in the same industry do better.

The long and short term trends are both positive. This is looking good!

When comparing the performance of all stocks over the past year, WS turns out to be only a medium performer in the overall market: it outperformed 58% of all stocks.

WS is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WS is lagging the market.

In the last month WS has a been trading in the 29.36 - 33.31 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

WORTHINGTON STEEL INC / WS Weekly stock chart

WORTHINGTON STEEL INC / WS Daily stock chart

Setup Rating and Analysis

Although WS has an excellent technical rating, it does not present a decent entry opportunity 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

25.50

33.60

We found 2 important support areas.

A support zone ranging from 29.65 to 30.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 25.76 to 26.02. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 32.52 to 33.27. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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 WS is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for WS is up.
ChartMill Relative Strength	58.57	NEUTRAL	WS is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of WS is above a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of WS is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of WS is above a declining SMA(200).
Relative Strength Index/RSI (14)	55.21	NEUTRAL	The RSI value for WS is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.08	POSITIVE	The MACD value suggests WS has a positive trend, although the MACD value is declining.
Stochastics (14,3)	70.63	NEUTRAL	The Stochastics value for WS is a neutral value.
Average True Range in percent/ATR (20)	3.07	MEDIUM VOLATILITY	The ATR as a percentage value for WS suggests some volalility.
Average Directional Index/ADX (14)	19.37	NEGATIVE	The low ADX value for WS suggests a weak or negative trend.