MGX Technical Analysis - METAGENOMI INC

Technical Rating and Analysis

Overall MGX gets a technical rating of 9 out of 10. Both in the recent history as in the last year, MGX has proven to be a steady performer, scoring decent points in every aspect analyzed.

Both the short term and long term trends are positive. This is a very positive sign.

MGX is one of the better performing stocks in the Biotechnology industry, it outperforms 74% of 536 stocks in the same industry.

In the last month MGX has a been trading in the 1.75 - 2.56 range, which is quite wide. It is currently trading near the high of this range.

When comparing the yearly performance of all stocks, we notice that MGX is one of the better performing stocks in the market, outperforming 88% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.

MGX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MGX is lagging the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

MGX has an excellent technical rating, but the quality of the setup is only medium 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

1.40

2.51

When analyzing the support we can see 4 important areas.

A support zone ranging from 2.47 to 2.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 1.88 to 1.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @1.63 from a trend line in the daily time frame.
Support @1.41 from a horizontal line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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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	UP	POSITIVE	The long term trend for MGX is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MGX is up.
ChartMill Relative Strength	88.06	POSITIVE	MGX has a high relative strength, it outperformed 88.06% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MGX is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of MGX is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of MGX is above a declining SMA(200).
Relative Strength Index/RSI (14)	68.06	NEUTRAL	The RSI value for MGX is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.05	POSITIVE	The MACD value suggests MGX has a positive trend.
Stochastics (14,3)	91.41	OVERBOUGHT	The high Stochastics value suggests MGX may be overbought.
Average True Range in percent/ATR (20)	6.66	HIGH VOLATILITY	The high ATR as a percentage value for MGX suggests high volalility.
Average Directional Index/ADX (14)	30.17	POSITIVE	The high ADX value value for MGX suggests a strong trend.