MYR GROUP INC.
MYR GROUP INC.
- USD (-)
- 15 min delayed data - NASDAQ Stocks
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Stocks
Ticker: MYRG
ISIN:

MYR GROUP INC. - Daily - Technical analysis published on 03/06/2020 (GMT)

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  • Timeframe : Daily
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Summary of the analysis

Trends
Court terme: Strongly bullish
De fond: Slightly bearish
Technical indicators
56%
11%
33%
My opinion
Bullish above 30.02 USD
My targets
31.91 USD (+2.94%)
33.76 USD (+8.90%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for MYR GROUP INC. as long as the price remains well above 30.02 USD. The buyers” bullish objective is set at 31.91 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 33.76 USD. If there is any crossing, the next objective would be the resistance located at 34.99 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 31.91 USD. On this resistance, against the trend traders who would like to go short on MYR GROUP INC. with a bearish signal from their trading strategy, should not hesitate to act.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
1.8

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

MYR GROUP INC. rating 31.00 USD. The price has increased by +17.69% since the last closing and was traded between 26.46 USD and 31.83 USD over the period. The price is currently at +17.16% from its lowest and -2.61% from its highest.

26.46
31.83
31.00

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by MYR GROUP INC.:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly



Technical


A technical analysis in Daily of this MYR GROUP INC. chart shows a slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 10 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily


RSI indicator: bullish divergence

Type : Bullish

Timeframe : Daily


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily


Price is back under the pivot point

Type : Bearish

Timeframe : Daily


Price is back under the pivot point

Type : Bearish

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Central Patterns

Resistance of channel is broken

Type : Bullish

Timeframe : Daily



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 26.74 28.73 30.02 31.00 31.91 33.76 34.99
Change (%) -13.74% -7.32% -3.16% - +2.94% +8.90% +12.87%
Change -4.26 -2.27 -0.98 - +0.91 +2.76 +3.99
Level Major Major Intermediate - Intermediate Intermediate Intermediate



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard25.0325.5925.9726.5326.9127.4727.85
Camarilla26.0826.1726.2526.3426.4326.5126.60
Woodie24.9325.5525.8726.4926.8127.4327.75
Fibonacci25.5925.9526.1726.5326.8927.1127.47


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.5320.9323.2226.6228.9132.3134.60
Camarilla23.9524.4724.9925.5126.0326.5527.08
Woodie16.9820.6522.6726.3428.3632.0334.05
Fibonacci20.9323.1024.4526.6228.7930.1432.31


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard16.1620.2422.8826.9629.6033.6836.32
Camarilla23.6624.2824.8925.5126.1326.7427.36
Woodie15.4319.8822.1526.6028.8733.3235.59
Fibonacci20.2422.8124.4026.9629.5331.1233.68

Numerical data


The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 58.95
MACD (12,26,9): -0.9200
Directional Movement: 11.95
AROON (14): 28.57
DEMA (21): 27.44
Parabolic SAR (0,02-0,02-0,2): 24.33
Elder Ray (13): 0.97
Super Trend (3,10): 24.26
Zig ZAG (10): 31.00
VORTEX (21): 0.8900
Stochastique (14,3,5): 48.50
TEMA (21): 27.19
Williams %R (14): -11.04
Chande Momentum Oscillator (20): 0.71
Repulse (5,40,3): 14.6100
ROCnROLL: 1
TRIX (15,9): -0.4400
Courbe Coppock: 17.84
MA7: 26.88
MA20: 28.89
MA50: 30.54
MA100: 31.96
MAexp7: 27.87
MAexp20: 28.66
MAexp50: 30.09
MAexp100: 31.13
Price / MA7: +15.33%
Price / MA20: +7.30%
Price / MA50: +1.51%
Price / MA100: -3.00%
Price / MAexp7: +11.23%
Price / MAexp20: +8.16%
Price / MAexp50: +3.02%
Price / MAexp100: -0.42%

This member declared not having a position on this financial instrument or a related financial instrument.

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