MYR GROUP INC. - Daily - Technical analysis published on 03/06/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
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
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
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.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MYR GROUP INC.:
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:
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
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:
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
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|
| Standard | 25.03 | 25.59 | 25.97 | 26.53 | 26.91 | 27.47 | 27.85 |
| Camarilla | 26.08 | 26.17 | 26.25 | 26.34 | 26.43 | 26.51 | 26.60 |
| Woodie | 24.93 | 25.55 | 25.87 | 26.49 | 26.81 | 27.43 | 27.75 |
| Fibonacci | 25.59 | 25.95 | 26.17 | 26.53 | 26.89 | 27.11 | 27.47 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.53 | 20.93 | 23.22 | 26.62 | 28.91 | 32.31 | 34.60 |
| Camarilla | 23.95 | 24.47 | 24.99 | 25.51 | 26.03 | 26.55 | 27.08 |
| Woodie | 16.98 | 20.65 | 22.67 | 26.34 | 28.36 | 32.03 | 34.05 |
| Fibonacci | 20.93 | 23.10 | 24.45 | 26.62 | 28.79 | 30.14 | 32.31 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.16 | 20.24 | 22.88 | 26.96 | 29.60 | 33.68 | 36.32 |
| Camarilla | 23.66 | 24.28 | 24.89 | 25.51 | 26.13 | 26.74 | 27.36 |
| Woodie | 15.43 | 19.88 | 22.15 | 26.60 | 28.87 | 33.32 | 35.59 |
| Fibonacci | 20.24 | 22.81 | 24.40 | 26.96 | 29.53 | 31.12 | 33.68 |
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% |
News
The last news published on MYR GROUP INC. at the time of the generation of this analysis was as follows:
- MYR Group Inc. to Host Earnings Call
- Investor Network: MYR Group Inc. to Host Earnings Call
- Investor Network: MYR Group Inc. to Host Earnings Call
-
MYR Group
- MYR Group Inc. Announces William A. Koertner Steps Down as President and Chief Executive Officer
This member declared not having a position on this financial instrument or a related financial instrument.
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