MGPI Technical Analysis - MGP INGREDIENTS INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to MGPI. MGPI scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

98% 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 90% are performing better than MGPI.

MGPI is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.

In the last month MGPI has a been trading in the 23.78 - 28.57 range, which is quite wide. It is currently trading near the lows of this range.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MGP INGREDIENTS INC / MGPI Weekly stock chart

MGP INGREDIENTS INC / MGPI Daily stock chart

Setup Rating and Analysis

The technical rating of MGPI is bad and it also does not present a 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

23.56

33.22

4 important resistance areas can be observed.

A resistance zone ranging from 24.69 to 24.77. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 26.98 to 27.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @30.20 from a trend line in the daily time frame.
Resistance @32.89 from a horizontal line in the weekly time frame.

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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.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for MGPI is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MGPI is down.
ChartMill Relative Strength	2.89	NEGATIVE	MGPI has a low relative strength, it was outperformed by 97.11% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MGPI is below a declining 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)	24.81	OVERSOLD	The low RSI value suggests MGPI may be oversold.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.17	NEGATIVE	The MACD value suggests MGPI has a negative trend, although the MACD value is rising.
Stochastics (14,3)	12.67	OVERSOLD	The low Stochastics value suggests MGPI may be oversold.
Average True Range in percent/ATR (20)	3.06	MEDIUM VOLATILITY	The ATR as a percentage value for MGPI suggests some volalility.
Average Directional Index/ADX (14)	30.89	POSITIVE	The high ADX value value for MGPI suggests a strong trend.