LEGN Technical Analysis - LEGEND BIOTECH CORP-ADR

Technical Rating and Analysis

Taking everything into account, LEGN scores 0 out of 10 in our technical rating. LEGN'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.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

When comparing the yearly performance of all stocks, LEGN is a bad performer in the overall market: 92% of all stocks are doing better.

LEGN is one of the lesser performing stocks in the Biotechnology industry. 72% of 534 stocks in the same industry do better.

LEGN 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.

LEGN has an average volume of 1213370 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month LEGN has a been trading in the 30.77 - 34.80 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

LEGEND BIOTECH CORP-ADR / LEGN Weekly stock chart

LEGEND BIOTECH CORP-ADR / LEGN Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, LEGN 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

31.35

39.76

When analyzing the resistance we notice 4 important areas.

Resistance @31.86 from a trend line in the daily time frame.
A resistance zone ranging from 32.42 to 32.64. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 33.73 to 33.88. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @39.37 from a trend 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	DOWN	NEGATIVE	The long term trend for LEGN is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for LEGN is down.
ChartMill Relative Strength	8.71	NEGATIVE	LEGN has a low relative strength, it was outperformed by 91.29% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of LEGN is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of LEGN is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of LEGN is below a declining SMA(200).
Relative Strength Index/RSI (14)	41.15	NEUTRAL	The RSI value for LEGN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.08	POSITIVE	The MACD value suggests LEGN has a positive trend, although the MACD value is declining.
Stochastics (14,3)	35.81	NEUTRAL	The Stochastics value for LEGN is a neutral value.
Average True Range in percent/ATR (20)	4.36	MEDIUM VOLATILITY	The ATR as a percentage value for LEGN suggests some volalility.
Average Directional Index/ADX (14)	13.25	NEGATIVE	The low ADX value for LEGN suggests a weak or negative trend.