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MEGGITT PLC (MGGT.L) Stock Technical Analysis

Europe - LON:MGGT - GB0005758098 - Common Stock

799.3 GBX
+0.5 (+0.06%)
Last: 9/12/2022, 5:29:46 PM
Technical Rating and Analysis

10

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.

Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that MGGT is one of the better performing stocks in the market, outperforming 83% of all stocks. On top of that, MGGT also shows a nice and consistent pattern of rising prices.
A new 52 week high is currently being made by MGGT, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
In the last month MGGT has a been trading in a tight range between 790.00 and 800.00.
Weekly and Daily overview Charts
MEGGITT PLC / MGGT Weekly stock chart
MEGGITT PLC / MGGT Daily stock chart
Setup Rating and Analysis

7

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.

Support and Resistance Analysis

725.26

807.30

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.
Technical Indicator Signal Analysis

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.

IndicatorValueSignalComment
ChartMill Long Term Trend IndicatorUPPOSITIVEThe long term trend for MGGT.L is up.
ChartMill Short Term Trend IndicatorUPPOSITIVEThe short term trend for MGGT.L is up.
ChartMill Relative Strength83.62POSITIVEMGGT.L has a high relative strength, it outperformed 83.62% off all stocks on the market.
Simple Moving Average/SMA (20)UPPOSITIVEThe current price of MGGT.L is above the rising SMA(20).
Simple Moving Average/SMA (50)UPPOSITIVEThe current price of MGGT.L is above the rising SMA(50).
Simple Moving Average/SMA (200)UPPOSITIVEThe current price of MGGT.L is above the rising SMA(200).
Relative Strength Index/RSI (14)72.32OVERBOUGHTThe high RSI value suggests MGGT.L may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)0.08POSITIVEThe MACD value suggests MGGT.L has a positive trend, although the MACD value is declining.
Stochastics (14,3)87.67OVERBOUGHTThe high Stochastics value suggests MGGT.L may be overbought.
Average True Range in percent/ATR (20)0.28LOW VOLATILITYThe low ATR as a percentage value for MGGT.L suggests low volalility.
Average Directional Index/ADX (14)25.06POSITIVEThe high ADX value value for MGGT.L suggests a strong trend.
Chart- and CandleStick Pattern Analysis
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)
Example Setup

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.

ENTRYEXITDISTANCECAPITAL
799.32797.192.13 (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.
MEGGITT PLC / MGGT Daily stock chart

MEGGITT PLC

LON:MGGT (9/12/2022, 5:29:46 PM)

799.3

+0.5 (+0.06%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.06%
1 Week0.14%
2 Weeks0.16%
1 Month0.9%
3 Month4.06%
6 Month4.98%
12 Month9.1%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.84
ATR(20)%0.28%
ATR Inc-51.72%
Range Today1
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS83.62
Mansfield0.91
10 Day High800
10 Day Low797.2
20 Day High800
20 Day Low790
52 Week High800
52 Week Low730.2
CS1 End798.35
CR1 Start799.31
Volume & EV
DER(3)-0.94%
DER(5)-1.91%
Volume334.58K
Volume Incr13.97%
Vol(5)259.69K
Vol(50)285.85K