BMGL Technical Analysis - BASEL MEDICAL GROUP LTD

Technical Rating and Analysis

Overall BMGL gets a technical rating of 1 out of 10. BMGL's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.

100% of all other stocks performed better in the past year than BMGL.

BMGL is part of the Health Care Providers & Services industry. There are 101 other stocks in this industry, of which 93% are performing better than BMGL.

Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.

In the last month BMGL has a been trading in the 1.80 - 2.15 range, which is quite wide. It is currently trading near the high of this range.

BMGL has an average volume of 2712640 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BASEL MEDICAL GROUP LTD / BMGL Weekly stock chart

BASEL MEDICAL GROUP LTD / BMGL Daily stock chart

Setup Rating and Analysis

BMGL has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.08. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.99, 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

1.87

2.10

We found 2 important support areas.

A support zone ranging from 1.97 to 1.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @1.89 from a horizontal line in the daily time frame.

We found 1 important resistance area.

A resistance zone ranging from 2.08 to 2.08. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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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 BMGL is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for BMGL is neutral.
ChartMill Relative Strength	0	NEGATIVE	BMGL has a low relative strength, it was outperformed by 100% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of BMGL is above a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of BMGL is below the rising SMA(50).
Relative Strength Index/RSI (14)	51.42	NEUTRAL	The RSI value for BMGL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests BMGL has a positive trend.
Stochastics (14,3)	54.99	NEUTRAL	The Stochastics value for BMGL is a neutral value.
Average True Range in percent/ATR (20)	4.95	MEDIUM VOLATILITY	The ATR as a percentage value for BMGL suggests some volalility.
Average Directional Index/ADX (14)	16.08	NEGATIVE	The low ADX value for BMGL suggests a weak or negative trend.