MAGIC EMPIRE GLOBAL LTD-A (MEGL) Stock Technical Analysis
NASDAQ:MEGL - Nasdaq - VGG5865E1218 - Common Stock - Currency: USD
Taking everything into account, MEGL scores 5 out of 10 in our technical rating. 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: 79% of all stocks are doing better.
MEGL is one of the lesser performing stocks in the Capital Markets industry. 70% of 232 stocks in the same industry do better.
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.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
MEGL has an average volume of 2362270 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month MEGL has a been trading in the 1.20 - 2.62 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
MEGL has an average technical rating and it also 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.
More info and screens
1.24
2.34
We found 1 important support area.
- Support @1.25 from a trend line in the daily time frame.
We can see 3 important resistance areas.
- Resistance @1.69 from a horizontal line in the weekly time frame.
- Resistance @2.00 from a trend line in the daily time frame.
- Resistance @2.32 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 | UP | POSITIVE | The short term trend for MEGL is up. |
| ChartMill Relative Strength | 21.66 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 78.34% 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) | 54.71 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests MEGL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 46.52 | NEUTRAL | The Stochastics value for MEGL is a neutral value. |
| Average True Range in percent/ATR (20) | 13.26 | HIGH VOLATILITY | The high ATR as a percentage value for MEGL suggests high volalility. |
| Average Directional Index/ADX (14) | 22.99 | NEUTRAL | The ADX value for MEGL suggests a possible start of a new 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)
1.61
-0.1 (-5.85%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryCapital Markets
Performance
% Chg-5.85%
1 Week28.8%
2 Weeks28.07%
1 Month10.45%
3 Month10.27%
6 Month-19.5%
12 Month-31.61%
2 Year-76.73%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.26
ATR(20)%13.26%
ATR Inc225.92%
Range Today0.31
ADR(20)0.19
ADR(20)%11.6%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS21.66
Mansfield-1.79
10 Day High2.62
10 Day Low1.2
20 Day High2.62
20 Day Low1.2
52 Week High5.52
52 Week Low1.02
CS1 End1.25
CR1 Start1.69
Volume & EV
DER(3)0.65%
DER(5)3.92%
Volume313.70K
Volume Incr12274.92%
Vol(5)12.17M
Vol(50)2.36M