MGP INGREDIENTS INC (MGPI) Stock Technical Analysis
NASDAQ:MGPI - Nasdaq - US55303J1060 - Common Stock - Currency: USD
Overall MGPI gets a technical rating of 4 out of 10. In the past year, MGPI was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
90% of all other stocks performed better in the past year than MGPI.
MGPI is part of the Beverages industry. There are 32 other stocks in this industry, of which 77% are performing better than MGPI.
MGPI is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month MGPI has a been trading in the 27.42 - 33.38 range, which is quite wide. It is currently trading near the high of this range.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
MGPI has an average technical rating and it also does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
26.47
64.81
When analyzing the support we can see 6 important areas.
- A support zone ranging from 30.52 to 30.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 29.47 to 29.85. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @28.87 from a trend line in the weekly time frame.
- Support @28.32 from a horizontal line in the weekly time frame.
- Support @27.87 from a trend line in the daily time frame.
- Support @26.74 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- Resistance @32.90 from a horizontal line in the weekly time frame.
- Resistance @33.57 from a horizontal line in the daily time frame.
- Resistance @34.23 from a horizontal line in the daily time frame.
- Resistance @64.17 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 MGPI is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGPI is up. |
| ChartMill Relative Strength | 10.17 | NEGATIVE | MGPI has a low relative strength, it was outperformed by 89.83% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGPI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGPI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGPI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 65.55 | NEUTRAL | The RSI value for MGPI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.4 | POSITIVE | The MACD value suggests MGPI has a positive trend. |
| Stochastics (14,3) | 87.63 | OVERBOUGHT | The high Stochastics value suggests MGPI may be overbought. |
| Average True Range in percent/ATR (20) | 3.63 | MEDIUM VOLATILITY | The ATR as a percentage value for MGPI suggests some volalility. |
| Average Directional Index/ADX (14) | 16.02 | NEGATIVE | The low ADX value for MGPI 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)
32.59
-0.28 (-0.85%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Staples
GICS IndustryBeverages
Performance
% Chg-0.85%
1 Week9.44%
2 Weeks6.92%
1 Month9.18%
3 Month20.3%
6 Month-14.73%
12 Month-55.69%
2 Year-71.41%
3 Year-69.01%
5 Year-10.15%
10 Year120.65%
15 Year329.95%
Volatility
ATR(14)1.12
ATR(20)%3.63%
ATR Inc4.8%
Range Today0.95
ADR(20)1.16
ADR(20)%3.54%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS10.17
Mansfield-3.94
10 Day High33.38
10 Day Low28.89
20 Day High33.38
20 Day Low27.42
52 Week High92.52
52 Week Low25.12
CS1 End30.81
CR1 Start32.9
Volume & EV
DER(3)-0.09%
DER(5)0.03%
Volume118.30K
Volume Incr11.43%
Vol(5)322.04K
Vol(50)338.49K