MEIRAGTX HOLDINGS PLC (MGTX) Stock Technical Analysis
NASDAQ:MGTX - Nasdaq - KYG596651029 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to MGTX. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MGTX is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that MGTX is one of the better performing stocks in the market, outperforming 95% of all stocks.
MGTX is one of the better performing stocks in the Biotechnology industry, it outperforms 89% of 549 stocks in the same industry.
MGTX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MGTX is lagging the market slightly.
In the last month MGTX has a been trading in the 7.28 - 8.70 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
MGTX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 7.64, a Stop Loss order could be placed below this zone.
More info and screens
4.04
8.99
We found 3 important support areas.
- A support zone ranging from 7.50 to 7.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @5.42 from a trend line in the weekly time frame.
- Support @4.08 from a trend line in the weekly time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 7.98 to 8.05. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @8.27 from a trend line in the daily time frame.
- Resistance @8.90 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 MGTX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGTX is up. |
| ChartMill Relative Strength | 95.5 | POSITIVE | MGTX has a high relative strength, it outperformed 95.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGTX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGTX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGTX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.06 | NEUTRAL | The RSI value for MGTX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests MGTX has a negative trend. |
| Stochastics (14,3) | 65.18 | NEUTRAL | The Stochastics value for MGTX is a neutral value. |
| Average True Range in percent/ATR (20) | 5.54 | HIGH VOLATILITY | The high ATR as a percentage value for MGTX suggests high volalility. |
| Average Directional Index/ADX (14) | 20.11 | NEUTRAL | The ADX value for MGTX suggests a possible start of a new 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 8.06 | 7.49 | 0.57 (7.07%) | 14.14% |
| An entry @8.06. This is a Buy Stop order right above the resistance zone. | An exit @7.49. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.57 points, which is 7.07%. | For a 1.00% total portfolio risk, you can invest 14.14% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MGTX. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
7.97
-0.2 (-2.45%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-2.45%
1 Week1.66%
2 Weeks1.66%
1 Month-8.29%
3 Month56.27%
6 Month9.18%
12 Month91.13%
2 Year26.71%
3 Year-3.98%
5 Year-38.74%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.49
ATR(20)%5.54%
ATR Inc27.86%
Range Today0.54
ADR(20)0.44
ADR(20)%5.48%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS95.5
Mansfield1.62
10 Day High8.63
10 Day Low7.28
20 Day High8.7
20 Day Low7.28
52 Week High8.98
52 Week Low3.85
CS1 End7.64
CR1 Start7.98
Volume & EV
DER(3)-0.54%
DER(5)-2.07%
Volume326.25K
Volume Incr-18.43%
Vol(5)442.03K
Vol(50)537.60K