MAGIC EMPIRE GLOBAL LTD-A (MEGL) Stock Technical Analysis
NASDAQ:MEGL • VGG5865E1218
Taking everything into account, MEGL scores 0 out of 10 in our technical rating. 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 negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, MEGL is a bad performer in the overall market: 92% of all stocks are doing better.
- MEGL is one of the lesser performing stocks in the Capital Markets industry. 83% of 238 stocks in the same industry do better.
- MEGL is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- MEGL is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
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
0.91
When analyzing the resistance we notice 7 important areas.
- A resistance zone ranging from 0.93 to 0.94. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 1.20 to 1.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.24 from a trend line in the weekly time frame.
- Resistance @1.27 from a trend line in the daily time frame.
- Resistance @1.54 from a horizontal line in the daily time frame.
- Resistance @1.57 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 | DOWN | NEGATIVE | The long term trend for MEGL is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MEGL is down. |
| ChartMill Relative Strength | 8.37 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 91.63% off all stocks 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) | 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) | 30.48 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests MEGL has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 9.15 | OVERSOLD | The low Stochastics value suggests MEGL may be oversold. |
| Average True Range in percent/ATR (20) | 10.27 | HIGH VOLATILITY | The high ATR as a percentage value for MEGL suggests high volalility. |
| Average Directional Index/ADX (14) | 21.82 | NEUTRAL | The ADX value for MEGL suggests a possible start of a new trend. |
0.92
-0.01 (-1.09%)
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 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 MEGL stock?
MAGIC EMPIRE GLOBAL LTD-A (MEGL) has an RSI value of 30.4781. 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 -0.0304605, 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 negative.