MEGGITT PLC (MGGT.L) Stock Technical Analysis
Europe - LON:MGGT - GB0005758098 - Common Stock
We assign a technical rating of 10 out of 10 to MGGT. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MGGT is showing a nice and steady performance.
Besides having an excellent technical rating, MGGT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 799.31. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 798.35, a Stop Loss order could be placed below this zone.
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725.26
When analyzing the support we can see 3 important areas.
- A support zone ranging from 779.00 to 798.35. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 762.80 to 765.60. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 732.59 to 733.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 799.31 to 799.31. 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 | UP | POSITIVE | The long term trend for MGGT.L is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGGT.L is up. |
| ChartMill Relative Strength | 83.62 | POSITIVE | MGGT.L has a high relative strength, it outperformed 83.62% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGGT.L is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGGT.L is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGGT.L is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 72.32 | OVERBOUGHT | The high RSI value suggests MGGT.L may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests MGGT.L has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 87.67 | OVERBOUGHT | The high Stochastics value suggests MGGT.L may be overbought. |
| Average True Range in percent/ATR (20) | 0.28 | LOW VOLATILITY | The low ATR as a percentage value for MGGT.L suggests low volalility. |
| Average Directional Index/ADX (14) | 25.06 | POSITIVE | The high ADX value value for MGGT.L suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 799.32 | 797.19 | 2.13 (0.27%) | 25.00% |
| An entry @799.32. This is a Buy Stop order right above the resistance zone. | An exit @797.19. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 2.13 points, which is 0.27%. | For a 0.07% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MGGT. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
LON:MGGT (9/12/2022, 5:29:46 PM)
799.3
+0.5 (+0.06%)