MADRIGAL PHARMACEUTICALS INC (MDGL) Technical Analysis
NASDAQ:MDGL • US5588681057
Current stock price
MDGL Technical Rating and Analysis
Taking everything into account, MDGL scores 9 out of 10 in our technical rating. In the last year, MDGL was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, MDGL did better than 85% of all other stocks. We also observe that the gains produced by MDGL over the past year are nicely spread over this period.
- MDGL is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MDGL is lagging the market slightly.
- MDGL is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
- MDGL is part of the Biotechnology industry. There are 515 other stocks in this industry, MDGL did better than 69% of them.
MDGL Weekly and Daily overview Charts
MDGL Setup Rating and Analysis
Besides having an excellent technical rating, MDGL also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 521.98. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 512.38, a Stop Loss order could be placed below this zone.
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MDGL Support and Resistance Analysis
351.84
When analyzing the support we can see 4 important areas.
- A support zone ranging from 512.38 to 512.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 463.52 to 469.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @417.43 from a horizontal line in the daily time frame.
- Support @355.39 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 521.98 to 532.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 546.90 to 546.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
MDGL 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 | UP | POSITIVE | The long term trend for MDGL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MDGL is up. |
| ChartMill Relative Strength | 85.69 | POSITIVE | MDGL has a high relative strength, it outperformed 85.69% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MDGL is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MDGL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MDGL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 53.9 | NEUTRAL | The RSI value for MDGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -3.41 | NEGATIVE | The MACD value suggests MDGL has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 43.42 | NEUTRAL | The Stochastics value for MDGL is a neutral value. |
| Average True Range in percent/ATR (20) | 3.36 | MEDIUM VOLATILITY | The ATR as a percentage value for MDGL suggests some volalility. |
| Average Directional Index/ADX (14) | 27.49 | POSITIVE | The high ADX value value for MDGL suggests a strong trend. |
MDGL Chart- and CandleStick Pattern Analysis
MDGL Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 532.04 | 512.37 | 19.67 (3.70%) | 25.00% |
| An entry @532.04. This is a Buy Stop order right above the resistance zone. | An exit @512.37. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 19.67 points, which is 3.70%. | For a 0.92% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MDGL. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
MDGL Technicals: Chart, Performance Metrics, Trend & Indicators
517.39
-1.19 (-0.23%)
MADRIGAL PHARMACEUTICALS INC / MDGL TA FAQ
What is the ChartMill technical rating of MADRIGAL PHARMACEUTICALS INC (MDGL) stock?
ChartMill assigns a technical rating of 9 / 10 to MDGL.
Can you provide the trend direction for MADRIGAL PHARMACEUTICALS INC?
The current trend direction for MADRIGAL PHARMACEUTICALS INC (MDGL) is Bullish.
What is the RSI signal for MDGL stock?
MADRIGAL PHARMACEUTICALS INC (MDGL) has an RSI value of 53.9045. This indicates that the stock is currently neutral.
What is the buy/sell signal for MDGL stock?
The buy/sell signal for MADRIGAL PHARMACEUTICALS INC (MDGL) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for MADRIGAL PHARMACEUTICALS INC (MDGL) stock?
MADRIGAL PHARMACEUTICALS INC (MDGL) has a support level at 512.38 and a resistance level at 521.98. Check the full technical report for our detailed analysis of MDGL support and resistance levels.