MERIDA MERGER CORP I (MCMJ) Stock Technical Analysis
NASDAQ:MCMJ - Nasdaq - Common Stock
Taking everything into account, MCMJ scores 0 out of 10 in our technical rating. MCMJ'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.
84% of all other stocks performed better in the past year than MCMJ.
MCMJ is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.
In the last month MCMJ has a been trading in the 5.75 - 10.05 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
Considerably lower volume is observed in the last couple of days.
The technical rating of MCMJ is bad and it also does not present a 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.
More info and screens
6.46
10.81
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 9.91 to 10.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @10.70 from a horizontal line in the weekly 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 MCMJ is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MCMJ is down. |
| ChartMill Relative Strength | 16.08 | NEGATIVE | MCMJ has a low relative strength, it was outperformed by 83.92% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MCMJ is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MCMJ is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MCMJ is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 20.76 | OVERSOLD | The low RSI value suggests MCMJ may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.33 | NEGATIVE | The MACD value suggests MCMJ has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 11.88 | OVERSOLD | The low Stochastics value suggests MCMJ may be oversold. |
| Average True Range in percent/ATR (20) | 9.13 | HIGH VOLATILITY | The high ATR as a percentage value for MCMJ suggests high volalility. |
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)
6.53
+0.1 (+1.56%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.56%
1 Week-8.93%
2 Weeks-34.57%
1 Month-34.63%
3 Month-35.85%
6 Month-34.5%
12 Month-38.97%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.59
ATR(20)%9.13%
ATR Inc94.6%
Range Today1.13
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS16.08
Mansfield-3.66
10 Day High10
10 Day Low5.75
20 Day High10.05
20 Day Low5.75
52 Week High11.27
52 Week Low5.75
CS1 EndN/A
CR1 Start9.91
Volume & EV
DER(3)-6.28%
DER(5)-6.83%
Volume161.60K
Volume Incr-48.88%
Vol(5)158.62K
Vol(50)279.48K