MAGIC EMPIRE GLOBAL LTD-A (MEGL) Technical Analysis
NASDAQ:MEGL • VGG5865E1218
Current stock price
MEGL Technical Rating and Analysis
Taking everything into account, MEGL scores 1 out of 10 in our technical rating. MEGL's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- 83% of all other stocks performed better in the past year than MEGL.
- MEGL is part of the Capital Markets industry. There are 242 other stocks in this industry, of which 63% are performing better than MEGL.
- MEGL is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MEGL is lagging the market.
- Warning: MEGL has an average volume of 25332 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- In the last month MEGL has a been trading in the 0.87 - 1.18 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
MEGL Weekly and Daily overview Charts
MEGL Setup Rating and Analysis
The technical rating of MEGL 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
MEGL Support and Resistance Analysis
0.91
When analyzing the support we notice one important area.
- Support @0.92 from a trend line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 1.05 to 1.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 1.08 to 1.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.12 from a trend line in the daily time frame.
- A resistance zone ranging from 1.15 to 1.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
MEGL 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 MEGL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MEGL is neutral. |
| ChartMill Relative Strength | 17.8 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 82.2% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MEGL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MEGL is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MEGL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.46 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests MEGL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 63.47 | NEUTRAL | The Stochastics value for MEGL is a neutral value. |
| Average True Range in percent/ATR (20) | 5.86 | HIGH VOLATILITY | The high ATR as a percentage value for MEGL suggests high volalility. |
| Average Directional Index/ADX (14) | 20.14 | NEUTRAL | The ADX value for MEGL suggests a possible start of a new trend. |
MEGL Chart- and CandleStick Pattern Analysis
MEGL Technicals: Chart, Performance Metrics, Trend & Indicators
1.05
-0.02 (-1.87%)
MAGIC EMPIRE GLOBAL LTD-A / MEGL TA FAQ
Can you provide the ChartMill technical rating for MAGIC EMPIRE GLOBAL LTD-A?
ChartMill assigns a technical rating of 1 / 10 to MEGL.
What is the current trend direction of MAGIC EMPIRE GLOBAL LTD-A (MEGL) stock?
The current trend direction for MAGIC EMPIRE GLOBAL LTD-A (MEGL) is Bearish.
What is the RSI signal for MEGL stock?
MAGIC EMPIRE GLOBAL LTD-A (MEGL) has an RSI value of 53.464. This indicates that the stock is currently neutral.
What is the MACD signal for MAGIC EMPIRE GLOBAL LTD-A (MEGL) stock?
The MACD indicator for MAGIC EMPIRE GLOBAL LTD-A (MEGL) has a value of 0.0135285, indicating a bearish trend.
What is the short term momentum for MEGL stock?
The short term momentum for MAGIC EMPIRE GLOBAL LTD-A (MEGL) is neutral.