MAGIC EMPIRE GLOBAL LTD-A (MEGL) Stock Technical Analysis
NASDAQ:MEGL - Nasdaq - VGG5865E1218 - Common Stock - Currency: USD
Overall MEGL gets a technical rating of 1 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.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, MEGL is a bad performer in the overall market: 89% of all stocks are doing better.
MEGL is part of the Capital Markets industry. There are 230 other stocks in this industry, of which 84% are performing better than MEGL.
MEGL is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so MEGL is lagging the market.
In the last month MEGL has a been trading in the 1.10 - 2.18 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
MEGL has an average volume of 1147720 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
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. 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
1.34
2.44
When analyzing the support we notice one important area.
- Support @1.35 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 1.37 to 1.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.72 from a trend line in the daily time frame.
- Resistance @1.94 from a horizontal line in the daily time frame.
- Resistance @2.42 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 | DOWN | NEGATIVE | The long term trend for MEGL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MEGL is neutral. |
| ChartMill Relative Strength | 11.34 | NEGATIVE | MEGL has a low relative strength, it was outperformed by 88.66% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MEGL is below the rising 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) | 47.21 | 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) | 21.16 | NEUTRAL | The Stochastics value for MEGL is a neutral value. |
| Average True Range in percent/ATR (20) | 14.84 | HIGH VOLATILITY | The high ATR as a percentage value for MEGL suggests high volalility. |
| Average Directional Index/ADX (14) | 15.84 | NEGATIVE | The low ADX value for MEGL suggests a weak or negative 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)
1.36
-0.01 (-0.98%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryCapital Markets
Performance
% Chg-0.98%
1 Week-6.7%
2 Weeks-24.86%
1 Month7.09%
3 Month-22.29%
6 Month-32%
12 Month-47.03%
2 Year-81.82%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.23
ATR(20)%14.84%
ATR Inc-36.66%
Range Today0.17
ADR(20)0.18
ADR(20)%12.98%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS11.34
Mansfield-3.15
10 Day High1.95
10 Day Low1.3
20 Day High2.18
20 Day Low1.1
52 Week High5.52
52 Week Low1.02
CS1 End1.35
CR1 Start1.37
Volume & EV
DER(3)8.82%
DER(5)3.2%
Volume28.50K
Volume Incr-98.43%
Vol(5)44.32K
Vol(50)1.15M