MAGIC EMPIRE GLOBAL LTD-A (MEGL) Stock Technical Analysis
NASDAQ:MEGL - Nasdaq - VGG5865E1218 - Common Stock - Currency: USD
Overall MEGL gets a technical rating of 3 out of 10. 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.
68% of all other stocks performed better in the past year than MEGL.
MEGL is part of the Capital Markets industry. There are 233 other stocks in this industry, of which 65% are performing better than MEGL.
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.
In the last month MEGL has a been trading in the 1.46 - 2.62 range, which is quite wide. It is currently trading near the lows of this range.
MEGL has an average volume of 2375560 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, MEGL does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 1.54, a Stop Loss order could be placed below this zone.
More info and screens
1.27
2.21
We found 3 important support areas.
- A support zone ranging from 1.51 to 1.54. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.33 from a trend line in the daily time frame.
- Support @1.28 from a trend line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 1.57 to 1.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 1.73 to 1.74. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.19 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 | NEUTRAL | NEUTRAL | The long term trend for MEGL is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MEGL is neutral. |
| ChartMill Relative Strength | 32.52 | NEUTRAL | MEGL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MEGL is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MEGL is above the rising 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) | 48.23 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests MEGL has a negative trend. |
| Stochastics (14,3) | 12.46 | OVERSOLD | The low Stochastics value suggests MEGL may be oversold. |
| Average True Range in percent/ATR (20) | 10.4 | HIGH VOLATILITY | The high ATR as a percentage value for MEGL suggests high volalility. |
| Average Directional Index/ADX (14) | 34.32 | POSITIVE | The high ADX value value for MEGL suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
1.55
-0.01 (-0.77%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryCapital Markets
Performance
% Chg-0.77%
1 Week-5.49%
2 Weeks-6.06%
1 Month-21.32%
3 Month31.36%
6 Month-48.68%
12 Month-29.39%
2 Year-75%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.08
ATR(20)%10.4%
ATR Inc-31.43%
Range Today0.07
ADR(20)0.16
ADR(20)%10.3%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS32.52
Mansfield-2.19
10 Day High1.65
10 Day Low1.52
20 Day High2.62
20 Day Low1.46
52 Week High5.52
52 Week Low1.02
CS1 End1.54
CR1 Start1.57
Volume & EV
DER(3)-2.56%
DER(5)-3%
Volume43.80K
Volume Incr-99.27%
Vol(5)22.48K
Vol(50)2.38M