MAGENTA THERAPEUTICS INC (MGTA) Technical Analysis
NASDAQ:MGTA • US55910K1088
Current stock price
MGTA Technical Rating and Analysis
We assign a technical rating of 0 out of 10 to MGTA. MGTA scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- When comparing the yearly performance of all stocks, MGTA is a bad performer in the overall market: 85% of all stocks are doing better.
- MGTA is part of the Biotechnology industry. There are 519 other stocks in this industry, of which 64% are performing better than MGTA.
- MGTA is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MGTA is lagging the market.
- In the last month MGTA has a been trading in the 0.68 - 0.83 range, which is quite wide. It is currently trading near the lows of this range.
MGTA Weekly and Daily overview Charts
MGTA Setup Rating and Analysis
Although the technical rating is bad, MGTA does present a nice setup opportunity. Prices have been consolidating lately.
More info and screens
MGTA Support and Resistance Analysis
0.61
We found 2 important support areas.
- Support @0.63 from a horizontal line in the weekly time frame.
- Support @0.62 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 0.75 to 0.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Strong resistance @0.81 from a horizontal line in the daily time frame.
MGTA 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 MGTA is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MGTA is down. |
| ChartMill Relative Strength | 15.82 | NEGATIVE | MGTA has a low relative strength, it was outperformed by 84.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGTA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGTA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGTA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 36.83 | NEUTRAL | The RSI value for MGTA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests MGTA has a negative trend. |
| Stochastics (14,3) | 41.86 | NEUTRAL | The Stochastics value for MGTA is a neutral value. |
| Average True Range in percent/ATR (20) | 6.95 | HIGH VOLATILITY | The high ATR as a percentage value for MGTA suggests high volalility. |
| Average Directional Index/ADX (14) | 20.65 | NEUTRAL | The ADX value for MGTA suggests a possible start of a new trend. |
MGTA Chart- and CandleStick Pattern Analysis
MGTA Technicals: Chart, Performance Metrics, Trend & Indicators
NASDAQ:MGTA (9/11/2023, 8:06:21 PM)
0.6996
-0.06 (-7.74%)
MAGENTA THERAPEUTICS INC / MGTA TA FAQ
Can you provide the ChartMill technical rating for MAGENTA THERAPEUTICS INC?
ChartMill assigns a technical rating of 0 / 10 to MGTA.
What is the trend direction for MGTA stock?
The current trend direction for MAGENTA THERAPEUTICS INC (MGTA) is Bearish.
Can you provide the RSI signal for MAGENTA THERAPEUTICS INC?
MAGENTA THERAPEUTICS INC (MGTA) has an RSI value of 36.8297. This indicates that the stock is currently neutral.
What is the short term momentum for MGTA stock?
The short term momentum for MAGENTA THERAPEUTICS INC (MGTA) is negative.
Can you provide the support and resistance levels for MAGENTA THERAPEUTICS INC?
MAGENTA THERAPEUTICS INC (MGTA) has a support level at 0.63 and a resistance level at 0.75. Check the full technical report for our detailed analysis of MGTA support and resistance levels.