We assign a technical rating of 2 out of 10 to MGRT. In the last year, MGRT was a bad performer. We also see some doubts in the very recent evolution, but in the medium term things still look positive.
- When comparing the yearly performance of all stocks, MGRT is a bad performer in the overall market: 100% of all stocks are doing better.
- MGRT is part of the IT Services industry. There are 88 other stocks in this industry, of which 88% are performing better than MGRT.
- In the last month MGRT has a been trading in the 5.61 - 11.23 range, which is quite wide. It is currently trading near the lows of this range.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
- Considerably lower volume is observed in the last couple of days.
MGRT has a poor technical rating and the quality of the setup is also not perfect 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
4.47
We found 5 important support areas.
- A support zone ranging from 6.11 to 6.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @6.01 from a horizontal line in the weekly time frame.
- Support @5.81 from a horizontal line in the daily time frame.
- Support @5.20 from a trend line in the daily time frame.
- Support @4.52 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- Resistance @6.78 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 | UP | POSITIVE | The long term trend for MGRT is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MGRT is down. |
| ChartMill Relative Strength | 0 | NEGATIVE | MGRT has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGRT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGRT is below a declining SMA(50). |
| Relative Strength Index/RSI (14) | 46.96 | NEUTRAL | The RSI value for MGRT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests MGRT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 30.18 | NEUTRAL | The Stochastics value for MGRT is a neutral value. |
| Average True Range in percent/ATR (20) | 13.94 | HIGH VOLATILITY | The high ATR as a percentage value for MGRT suggests high volalility. |
| Average Directional Index/ADX (14) | 40.77 | POSITIVE | The high ADX value value for MGRT suggests a strong trend. |
6.2
-0.14 (-2.29%)
MEGA FORTUNE CO LTD / MGRT FAQ
What is the technical rating for MGRT stock?
ChartMill assigns a technical rating of 2 / 10 to MGRT.
Can you provide the trend direction for MEGA FORTUNE CO LTD?
The current trend direction for MEGA FORTUNE CO LTD (MGRT) is Bullish.
What is the RSI signal for MEGA FORTUNE CO LTD (MGRT) stock?
MEGA FORTUNE CO LTD (MGRT) has an RSI value of 46.9622. This indicates that the stock is currently neutral.
What is the MACD signal for MGRT stock?
The MACD indicator for MEGA FORTUNE CO LTD (MGRT) has a value of -0.0915251, indicating a bearish trend.
What is the short term momentum for MEGA FORTUNE CO LTD (MGRT) stock?
The short term momentum for MEGA FORTUNE CO LTD (MGRT) is negative.