MAJOR DRILLING GROUP INTL (MDI.CA) Stock Technical Analysis
TSX:MDI - Toronto Stock Exchange - CA5609091031 - Common Stock - Currency: CAD
Overall MDI gets a technical rating of 8 out of 10. Although MDI is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, MDI also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 8.95, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MDI in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
6.91
We found 3 important support areas.
- A support zone ranging from 8.79 to 8.95. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 7.98 to 8.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @6.98 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- Resistance @9.20 from a trend 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 | UP | POSITIVE | The long term trend for MDI.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MDI.CA is up. |
| ChartMill Relative Strength | 61.88 | NEUTRAL | MDI.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MDI.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MDI.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MDI.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.94 | NEUTRAL | The RSI value for MDI.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MDI.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 48.2 | NEUTRAL | The Stochastics value for MDI.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.56 | MEDIUM VOLATILITY | The ATR as a percentage value for MDI.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 19.41 | NEGATIVE | The low ADX value for MDI.CA suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 9.21 | 8.78 | 0.43 (4.67%) | 21.42% |
| An entry @9.21. This is a Buy Stop order right above the resistance zone. | An exit @8.78. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.43 points, which is 4.67%. | For a 1.00% total portfolio risk, you can invest 21.42% of your capital in this trade. |
- 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.
TSX:MDI (7/4/2025, 7:00:00 PM)
9.08
+0.07 (+0.78%)