MAGIC EMPIRE GLOBAL LTD-A (MEGL) Technical Analysis
NASDAQ:MEGL • VGG5865E1218
Current stock price
MEGL Technical Rating and Analysis
Overall MEGL gets a technical rating of 0 out of 10. MEGL scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- 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.
- 82% of all other stocks performed better in the past year than MEGL.
- MEGL is one of the lesser performing stocks in the Capital Markets industry. 62% of 240 stocks in the same industry do better.
- MEGL is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- Warning: MEGL has an average volume of 20616 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 0.99 - 1.13 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
Although the technical rating is bad, MEGL does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 1.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.08, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MEGL 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
MEGL Support and Resistance Analysis
1.00
When analyzing the support we can see 2 important areas.
- A support zone ranging from 1.06 to 1.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1.01 to 1.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 1.09 to 1.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.12 from a trend line in the weekly time frame.
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 | 18.66 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 81.34% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MEGL is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MEGL is above 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) | 55.69 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests MEGL has a positive trend. |
| Stochastics (14,3) | 52.77 | NEUTRAL | The Stochastics value for MEGL is a neutral value. |
| Average True Range in percent/ATR (20) | 3.39 | MEDIUM VOLATILITY | The ATR as a percentage value for MEGL suggests some volalility. |
| Average Directional Index/ADX (14) | 22.07 | 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
1.08
+0.04 (+3.35%)
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 0 / 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 MAGIC EMPIRE GLOBAL LTD-A (MEGL) stock?
MAGIC EMPIRE GLOBAL LTD-A (MEGL) has an RSI value of 55.69. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MAGIC EMPIRE GLOBAL LTD-A?
The MACD indicator for MAGIC EMPIRE GLOBAL LTD-A (MEGL) has a value of 0.00199263, indicating a bearish trend.