XAI MADISON EQUITY PREMIUM I (MCN) Technical Analysis
NYSE:MCN • US5574371002
Current stock price
MCN Technical Rating and Analysis
Taking everything into account, MCN scores 2 out of 10 in our technical rating. MCN has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When compared to the yearly performance of all other stocks, MCN outperforms 46% of them, which is more or less in line with the market.
- MCN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MCN is lagging the market.
- In the last month MCN has a been trading in a tight range between 5.66 and 5.96.
MCN Weekly and Daily overview Charts
MCN Setup Rating and Analysis
Although the technical rating is bad, MCN does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 5.92. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 5.84, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MCN in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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MCN Support and Resistance Analysis
5.61
When analyzing the support we notice one important area.
- A support zone ranging from 5.67 to 5.84. 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 3 important areas.
- A resistance zone ranging from 5.92 to 6.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 6.17 to 6.18. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 6.33 to 6.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
MCN 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 MCN is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MCN is neutral. |
| ChartMill Relative Strength | 46.57 | NEUTRAL | MCN is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MCN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MCN is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MCN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.17 | NEUTRAL | The RSI value for MCN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests MCN has a positive trend. |
| Stochastics (14,3) | 74.44 | NEUTRAL | The Stochastics value for MCN is a neutral value. |
| Average True Range in percent/ATR (20) | 1.42 | LOW VOLATILITY | The low ATR as a percentage value for MCN suggests low volalility. |
| Average Directional Index/ADX (14) | 20.43 | NEUTRAL | The ADX value for MCN suggests a possible start of a new trend. |
MCN Chart- and CandleStick Pattern Analysis
MCN Technicals: Chart, Performance Metrics, Trend & Indicators
5.91
+0.06 (+1.03%)
XAI MADISON EQUITY PREMIUM I / MCN TA FAQ
What is the technical rating for MCN stock?
ChartMill assigns a technical rating of 2 / 10 to MCN.
What is the trend direction for MCN stock?
The current trend direction for XAI MADISON EQUITY PREMIUM I (MCN) is Bearish.
What is the RSI signal for XAI MADISON EQUITY PREMIUM I (MCN) stock?
XAI MADISON EQUITY PREMIUM I (MCN) has an RSI value of 53.1664. This indicates that the stock is currently neutral.
What are the support and resistance levels for XAI MADISON EQUITY PREMIUM I (MCN) stock?
XAI MADISON EQUITY PREMIUM I (MCN) has a support level at 5.84 and a resistance level at 5.92. Check the full technical report for our detailed analysis of MCN support and resistance levels.