Londinia Opportunities Analyses - 07/26/2024 (GMT) MYR GROUP INC. - 1H

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Type:	Stocks
Ticker:	MYRG
ISIN:

Londinia

Oops, I was wrong about that analysis. My threshold for invalidation has been broken.

U.S. Stocks
Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

11%

17%

My opinion

Bullish above 145.39 USD

My targets

149.72 USD (+1.61%)

151.61 USD (+2.89%)

My analysis

MYR GROUP INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 145.39 USD. The next resistance located at 149.72 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 151.61 USD. After this resistance, buyers could then target 159.08 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

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.

Additional analysis

Quotes

MYR GROUP INC. rating 147.35 USD. On the day, this instrument gained +2.93% and was traded between 145.88 USD and 149.74 USD over the period. The price is currently at +1.01% from its lowest and -1.60% from its highest.

145.88

149.74

147.35

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this MYR GROUP INC. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

MACD indicator is back over 0

Type : Bullish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	140.92	145.39	147.13	147.35	149.72	151.61	159.08
Change (%)	-4.36%	-1.33%	-0.15%	-	+1.61%	+2.89%	+7.96%
Change	-6.43	-1.96	-0.22	-	+2.37	+4.26	+11.73
Level	Intermediate	Minor	Minor	-	Major	Major	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	135.46	137.61	140.38	142.53	145.30	147.45	150.22
Camarilla	141.80	142.25	142.70	143.15	143.60	144.05	144.50
Woodie	135.77	137.77	140.69	142.69	145.61	147.61	150.53
Fibonacci	137.61	139.49	140.65	142.53	144.41	145.57	147.45

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	128.60	134.39	138.13	143.92	147.66	153.45	157.19
Camarilla	139.24	140.11	140.99	141.86	142.73	143.61	144.48
Woodie	127.57	133.88	137.10	143.41	146.63	152.94	156.16
Fibonacci	134.39	138.03	140.28	143.92	147.56	149.81	153.45

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	104.22	119.26	127.48	142.52	150.74	165.78	174.00
Camarilla	129.31	131.45	133.58	135.71	137.84	139.97	142.11
Woodie	100.82	117.56	124.08	140.82	147.34	164.08	170.60
Fibonacci	119.26	128.14	133.63	142.52	151.40	156.89	165.78

Numerical data

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

Technical indicators

Moving averages

RSI (14):	58.17
MACD (12,26,9):	0.3000
Directional Movement:	6.95
AROON (14):	50.00
DEMA (21):	145.36
Parabolic SAR (0,02-0,02-0,2):	140.32
Elder Ray (13):	2.11
Super Trend (3,10):	142.15
Zig ZAG (10):	147.34
VORTEX (21):	0.8400
Stochastique (14,3,5):	86.16
TEMA (21):	145.50
Williams %R (14):	-24.05
Chande Momentum Oscillator (20):	1.54
Repulse (5,40,3):	0.1300
ROCnROLL:	1
TRIX (15,9):	-0.0100
Courbe Coppock:	1.91

MA7:	144.10
MA20:	140.21
MA50:	145.28
MA100:	154.47
MAexp7:	145.85
MAexp20:	145.09
MAexp50:	144.53
MAexp100:	143.30
Price / MA7:	+2.26%
Price / MA20:	+5.09%
Price / MA50:	+1.42%
Price / MA100:	-4.61%
Price / MAexp7:	+1.03%
Price / MAexp20:	+1.56%
Price / MAexp50:	+1.95%
Price / MAexp100:	+2.83%

Quotes : - 15 min delayed data - Actions NASDAQ

News

The last news published on MYR GROUP INC. at the time of the generation of this analysis was as follows: