DMGI Technical Analysis - DMG BLOCKCHAIN SOLUTIONS INC

Technical Rating and Analysis

Taking everything into account, DMGI scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, DMGI has proven to be a steady performer, scoring decent points in every aspect analyzed.

Both the short term and long term trends are positive. This is a very positive sign.

DMGI is one of the better performing stocks in the Software industry, it outperforms 75% of 62 stocks in the same industry.

DMGI is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

DMGI is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

Looking at the yearly performance, DMGI did better than 80% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

DMG BLOCKCHAIN SOLUTIONS INC / DMGI Weekly stock chart

DMG BLOCKCHAIN SOLUTIONS INC / DMGI Daily stock chart

Setup Rating and Analysis

Although DMGI has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.22

0.56

We found 1 important support area.

Support @0.22 from a horizontal line in the weekly 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	UP	POSITIVE	The long term trend for DMGI.CA is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for DMGI.CA is up.
ChartMill Relative Strength	80.75	POSITIVE	DMGI.CA has a high relative strength, it outperformed 80.75% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of DMGI.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of DMGI.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of DMGI.CA is above the rising SMA(200).
Relative Strength Index/RSI (14)	71.23	OVERBOUGHT	The high RSI value suggests DMGI.CA may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.01	POSITIVE	The MACD value suggests DMGI.CA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	81.12	OVERBOUGHT	The high Stochastics value suggests DMGI.CA may be overbought.
Average True Range in percent/ATR (20)	8.77	HIGH VOLATILITY	The high ATR as a percentage value for DMGI.CA suggests high volalility.
Average Directional Index/ADX (14)	56.49	POSITIVE	The high ADX value value for DMGI.CA suggests a strong trend.