GOLDEN MATRIX GROUP INC (GMGI) Stock Technical Analysis
NASDAQ:GMGI - Nasdaq - US3810983003 - Common Stock - Currency: USD
We assign a technical rating of 0 out of 10 to GMGI. GMGI'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.
93% of all other stocks performed better in the past year than GMGI.
GMGI is part of the Entertainment industry. There are 72 other stocks in this industry, of which 83% are performing better than GMGI.
GMGI is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so GMGI is lagging the market.
In the last month GMGI has a been trading in the 1.33 - 1.96 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
The technical rating of GMGI is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
1.81
2.16
We found 1 important support area.
- A support zone ranging from 1.83 to 1.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 5 important areas.
- A resistance zone ranging from 1.94 to 1.94. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.98 from a horizontal line in the daily time frame.
- Resistance @2.04 from a trend line in the weekly time frame.
- Resistance @2.09 from a horizontal line in the weekly time frame.
- Resistance @2.14 from a horizontal line in the daily time frame.
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 GMGI is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GMGI is neutral. |
| ChartMill Relative Strength | 7.69 | NEGATIVE | GMGI has a low relative strength, it was outperformed by 92.31% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of GMGI is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of GMGI is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GMGI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.05 | NEUTRAL | The RSI value for GMGI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests GMGI has a positive trend. |
| Stochastics (14,3) | 84.74 | OVERBOUGHT | The high Stochastics value suggests GMGI may be overbought. |
| Average True Range in percent/ATR (20) | 6.6 | HIGH VOLATILITY | The high ATR as a percentage value for GMGI suggests high volalility. |
| Average Directional Index/ADX (14) | 30.44 | POSITIVE | The high ADX value value for GMGI suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
1.86
+0.07 (+3.91%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryEntertainment
Performance
% Chg3.91%
1 Week33.81%
2 Weeks13.41%
1 Month-1.59%
3 Month-11.43%
6 Month-19.83%
12 Month-69.36%
2 Year-14.29%
3 Year-57.34%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.13
ATR(20)%6.6%
ATR Inc5.03%
Range Today0.13
ADR(20)0.12
ADR(20)%6.52%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS7.69
Mansfield-1.97
10 Day High1.89
10 Day Low1.33
20 Day High1.96
20 Day Low1.33
52 Week High6.19
52 Week Low1.33
CS1 End1.85
CR1 Start1.94
Volume & EV
DER(3)-2.84%
DER(5)1.18%
Volume258.80K
Volume Incr90.52%
Vol(5)316.16K
Vol(50)166.35K