MFS GOVT MARKETS INC TRUST (MGF) Stock Technical Analysis
NYSE:MGF - New York Stock Exchange, Inc. - US5529391006 - Currency: USD
We assign a technical rating of 1 out of 10 to MGF. MGF has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Although the technical rating is bad, MGF does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 3.06. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.06, a Stop Loss order could be placed below this zone.
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3.00
When analyzing the support we notice one important area.
- A support zone ranging from 3.03 to 3.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 3 important resistance areas.
- A resistance zone ranging from 3.06 to 3.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @3.20 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 3.26 to 3.32. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 MGF is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MGF is down. |
| ChartMill Relative Strength | 43.57 | NEUTRAL | MGF is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGF is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGF is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGF is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 46.31 | NEUTRAL | The RSI value for MGF is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests MGF has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 33.33 | NEUTRAL | The Stochastics value for MGF is a neutral value. |
| Average True Range in percent/ATR (20) | 0.95 | LOW VOLATILITY | The low ATR as a percentage value for MGF suggests low volalility. |
| Average Directional Index/ADX (14) | 23.93 | NEUTRAL | The ADX value for MGF suggests a possible start of a new trend. |
3.06
-0.01 (-0.33%)