MERIDA MERGER CORP I (MCMJ) Technical Analysis
NASDAQ:MCMJ
Current stock price
MCMJ Technical Rating and Analysis
Overall MCMJ gets a technical rating of 0 out of 10. MCMJ scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- 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, MCMJ is a bad performer in the overall market: 84% of all stocks are doing better.
- MCMJ is currently making a new 52 week low. This is a very bad signal. The S&P500 Index is trading in the upper part of its 52 week range, so MCMJ is lagging the market.
- 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.
MCMJ Weekly and Daily overview Charts
MCMJ Setup Rating and Analysis
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
MCMJ Support and Resistance Analysis
6.46
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.
MCMJ 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 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. |
MCMJ Chart- and CandleStick Pattern Analysis
MCMJ Technicals: Chart, Performance Metrics, Trend & Indicators
6.53
+0.1 (+1.56%)
MERIDA MERGER CORP I / MCMJ TA FAQ
Can you provide the ChartMill technical rating for MERIDA MERGER CORP I?
ChartMill assigns a technical rating of 0 / 10 to MCMJ.
Can you provide the trend direction for MERIDA MERGER CORP I?
The current trend direction for MERIDA MERGER CORP I (MCMJ) is Bearish.
What is the RSI signal for MERIDA MERGER CORP I (MCMJ) stock?
MERIDA MERGER CORP I (MCMJ) has an RSI value of 20.7551. This indicates that the stock is currently oversold.
What is the buy/sell signal for MCMJ stock?
The buy/sell signal for MERIDA MERGER CORP I (MCMJ) is sell as both the short term and long term trends are negative.
What is the support and resistance level for MCMJ stock?
MERIDA MERGER CORP I (MCMJ) has a resistance level at 9.91. Check the full technical report for our detailed analysis of MCMJ support and resistance levels.