BGM Technical Analysis - BGM GROUP LTD

Technical Rating and Analysis

Taking everything into account, BGM scores 3 out of 10 in our technical rating. BGM has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.

The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

BGM is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month BGM has a been trading in the 8.83 - 11.58 range, which is quite wide. It is currently trading near the lows of this range.

When comparing the performance of all stocks over the past year, BGM turns out to be only a medium performer in the overall market: it outperformed 55% of all stocks.

BGM is an average performer in the Pharmaceuticals industry, it outperforms 60% of 191 stocks in the same industry.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, BGM does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 9.29, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

7.29

10.55

When analyzing the support we can see 2 important areas.

A support zone ranging from 9.13 to 9.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @7.36 from a trend line in the weekly time frame.

We can see 2 important resistance areas.

Resistance @10.17 from a horizontal line in the weekly time frame.
Resistance @10.45 from a trend line in the daily time frame.

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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	DOWN	NEGATIVE	The long term trend for BGM is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for BGM is neutral.
ChartMill Relative Strength	55.77	NEUTRAL	BGM is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of BGM is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BGM is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of BGM is below the rising SMA(200).
Relative Strength Index/RSI (14)	51.25	NEUTRAL	The RSI value for BGM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.1	NEGATIVE	The MACD value suggests BGM has a negative trend, although the MACD value is rising.
Stochastics (14,3)	32.18	NEUTRAL	The Stochastics value for BGM is a neutral value.
Average True Range in percent/ATR (20)	8.47	HIGH VOLATILITY	The high ATR as a percentage value for BGM suggests high volalility.
Average Directional Index/ADX (14)	27.98	POSITIVE	The high ADX value value for BGM suggests a strong trend.