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.
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 1.18, 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.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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.
6 important resistance areas can be observed.
- A resistance zone ranging from 1.28 to 1.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 1.34 to 1.35. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.46 from a trend line in the daily time frame.
- Resistance @1.54 from a horizontal line in the daily time frame.
- Resistance @1.67 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 | 10.13 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 89.87% 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) | 41.04 | NEUTRAL | The RSI value for MEGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MEGL has a negative trend. |
| Stochastics (14,3) | 6.08 | OVERSOLD | The low Stochastics value suggests MEGL may be oversold. |
| Average True Range in percent/ATR (20) | 7.71 | HIGH VOLATILITY | The high ATR as a percentage value for MEGL suggests high volalility. |
| Average Directional Index/ADX (14) | 16.32 | NEGATIVE | The low ADX value for MEGL suggests a weak or negative trend. |
1.19
-0.01 (-0.83%)
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 trend direction for 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 41.0412. 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 -0.00902137, indicating a bearish trend.
What is the buy/sell signal for MEGL stock?
The buy/sell signal for MAGIC EMPIRE GLOBAL LTD-A (MEGL) is sell as both the short term and long term trends are negative.