MGP INGREDIENTS INC (MGPI) Stock Technical Analysis
NASDAQ:MGPI - Nasdaq - US55303J1060 - Common Stock - Currency: USD
We assign a technical rating of 1 out of 10 to MGPI. MGPI'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 short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
94% of all other stocks performed better in the past year than MGPI.
MGPI is part of the Beverages industry. There are 33 other stocks in this industry, of which 84% are performing better than MGPI.
MGPI is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
In the last month MGPI has a been trading in the 28.89 - 33.38 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.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, MGPI does present a nice setup opportunity. Prices have been consolidating lately.
More info and screens
26.24
34.57
When analyzing the support we can see 3 important areas.
- Support @29.14 from a trend line in the weekly time frame.
- Support @28.03 from a trend line in the daily time frame.
- A support zone ranging from 26.51 to 27.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 5 important resistance areas.
- A resistance zone ranging from 30.62 to 30.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 31.39 to 31.64. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @32.89 from a horizontal line in the weekly time frame.
- Resistance @33.56 from a horizontal line in the daily time frame.
- Resistance @34.23 from a horizontal line in the daily 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 | NEUTRAL | NEUTRAL | The short term trend for MGPI is neutral. |
| ChartMill Relative Strength | 6.64 | NEGATIVE | MGPI has a low relative strength, it was outperformed by 93.36% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MGPI is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGPI is below a declining 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) | 42.12 | NEUTRAL | The RSI value for MGPI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.15 | NEGATIVE | The MACD value suggests MGPI has a negative trend. |
| Stochastics (14,3) | 21.68 | NEUTRAL | The Stochastics value for MGPI is a neutral value. |
| Average True Range in percent/ATR (20) | 4.01 | MEDIUM VOLATILITY | The ATR as a percentage value for MGPI suggests some volalility. |
| Average Directional Index/ADX (14) | 14.4 | 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)
29.26
-0.65 (-2.17%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Staples
GICS IndustryBeverages
Performance
% Chg-2.17%
1 Week-8.79%
2 Weeks-2.37%
1 Month0.07%
3 Month4.87%
6 Month-18.83%
12 Month-63.34%
2 Year-74.34%
3 Year-72.18%
5 Year-19.33%
10 Year98.1%
15 Year286.02%
Volatility
ATR(14)1.23
ATR(20)%4.01%
ATR Inc18.4%
Range Today1.14
ADR(20)1.16
ADR(20)%3.96%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS6.64
Mansfield-4.3
10 Day High33.38
10 Day Low29.16
20 Day High33.38
20 Day Low28.89
52 Week High92.52
52 Week Low25.12
CS1 End29.14
CR1 Start30.62
Volume & EV
DER(3)-1.85%
DER(5)-2.5%
Volume243.80K
Volume Incr-34.5%
Vol(5)186.86K
Vol(50)317.55K