Overall MEGL gets a technical rating of 3 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. MEGL was also a bad performer in the overall market in the last year.
- When comparing the yearly performance of all stocks, MEGL is a bad performer in the overall market: 87% of all stocks are doing better.
- MEGL is part of the Capital Markets industry. There are 238 other stocks in this industry, of which 82% 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.
- Warning: MEGL has an average volume of 22956 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 1.14 - 1.45 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- The long and short term trends are both neutral. This gives a pretty neutral overall picture!
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
The technical rating of MEGL is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
1.16
When analyzing the support we notice one important area.
- A support zone ranging from 1.17 to 1.18. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- Resistance @1.54 from a horizontal line in the daily time frame.
- Resistance @1.62 from a trend line in the daily time frame.
- Resistance @1.76 from a trend line in the daily time frame.
- Resistance @1.86 from a horizontal line in the daily 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 | 13.73 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 86.27% 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) | 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) | 65.44 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests MEGL has a positive trend. |
| Stochastics (14,3) | 77.8 | NEUTRAL | The Stochastics value for MEGL is a neutral value. |
| Average True Range in percent/ATR (20) | 3.85 | MEDIUM VOLATILITY | The ATR as a percentage value for MEGL suggests some volalility. |
| Average Directional Index/ADX (14) | 13.58 | NEGATIVE | The low ADX value for MEGL suggests a weak or negative trend. |
1.37
+0.15 (+12%)
MAGIC EMPIRE GLOBAL LTD-A / MEGL FAQ
Can you provide the ChartMill technical rating for MAGIC EMPIRE GLOBAL LTD-A?
ChartMill assigns a technical rating of 3 / 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 65.4381. 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 0.0164464, 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.