LEGN Technical Analysis - LEGEND BIOTECH CORP-ADR

Technical Rating and Analysis

Overall LEGN gets a technical rating of 0 out of 10. 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.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

89% of all other stocks performed better in the past year than LEGN.

LEGN is part of the Biotechnology industry. There are 538 other stocks in this industry, of which 64% are performing better than LEGN.

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.

In the last month LEGN has a been trading in the 32.02 - 36.48 range, which is quite wide. It is currently trading near the lows of this range.

LEGN has an average volume of 1151370 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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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. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 32.81, 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

32.48

41.00

When analyzing the support we notice one important area.

A support zone ranging from 32.81 to 32.81. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 33.77 to 34.25. 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 36.09 to 36.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @40.59 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	11.16	NEGATIVE	LEGN has a low relative strength, it was outperformed by 88.84% 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)	37.68	NEUTRAL	The RSI value for LEGN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.03	NEGATIVE	The MACD value suggests LEGN has a negative trend.
Stochastics (14,3)	9.82	OVERSOLD	The low Stochastics value suggests LEGN may be oversold.
Average True Range in percent/ATR (20)	3.71	MEDIUM VOLATILITY	The ATR as a percentage value for LEGN suggests some volalility.
Average Directional Index/ADX (14)	19.17	NEGATIVE	The low ADX value for LEGN suggests a weak or negative trend.