MEDI Technical Analysis - MEDISTIM ASA

Technical Rating and Analysis

Taking everything into account, MEDI scores 8 out of 10 in our technical rating. In the last year, MEDI was one of the better performers, but we do observe some doubts in the very recent evolution.

In the last month MEDI has a been trading in the 236.00 - 269.00 range, which is quite wide. It is currently trading near the lows of this range.

Warning: MEDI has an average volume of 5363 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

The short term is neutral, but the long term trend is still positive. Not much to worry about for now.

Looking at the yearly performance, MEDI did better than 87% of all other stocks.

MEDI is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 89% of 58 stocks in the same industry.

MEDI 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 MEDI is lagging the market slightly.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although MEDI has an excellent technical rating, it does not offer a high 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

179.77

271.70

When analyzing the support we can see 2 important areas.

Support @192.00 from a trend line in the weekly time frame.
Support @181.59 from a trend line in the daily time frame.

We can see 2 important resistance areas.

A resistance zone ranging from 234.67 to 246.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 265.01 to 269.01. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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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 MEDI.OL is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for MEDI.OL is neutral.
ChartMill Relative Strength	87.28	POSITIVE	MEDI.OL has a high relative strength, it outperformed 87.28% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MEDI.OL is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of MEDI.OL is below the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MEDI.OL is above the rising SMA(200).
Relative Strength Index/RSI (14)	52.31	NEUTRAL	The RSI value for MEDI.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-1.6	NEGATIVE	The MACD value suggests MEDI.OL has a negative trend, although the MACD value is rising.
Stochastics (14,3)	48.23	NEUTRAL	The Stochastics value for MEDI.OL is a neutral value.
Average True Range in percent/ATR (20)	3.27	MEDIUM VOLATILITY	The ATR as a percentage value for MEDI.OL suggests some volalility.
Average Directional Index/ADX (14)	18.11	NEGATIVE	The low ADX value for MEDI.OL suggests a weak or negative trend.