MITK Technical Analysis - MITEK SYSTEMS INC

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to MITK. MITK scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

65% of all other stocks performed better in the past year than MITK.

In the last month MITK has a been trading in the 8.97 - 10.46 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

The short term trend is negative, the long term trend is neutral. Not much exciting going on here.

MITK is an average performer in the Software industry, it outperforms 52% of 282 stocks in the same industry.

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

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MITEK SYSTEMS INC / MITK Weekly stock chart

MITEK SYSTEMS INC / MITK Daily stock chart

Setup Rating and Analysis

The technical rating of MITK is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

8.70

10.53

We found 1 important support area.

A support zone ranging from 8.79 to 8.79. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 9.75 to 9.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 10.15 to 10.43. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	NEUTRAL	NEUTRAL	The long term trend for MITK is neutral.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MITK is down.
ChartMill Relative Strength	35.15	NEUTRAL	MITK is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MITK is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of MITK is below the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MITK is below a declining SMA(200).
Relative Strength Index/RSI (14)	29.43	OVERSOLD	The low RSI value suggests MITK may be oversold.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.1	NEGATIVE	The MACD value suggests MITK has a negative trend.
Stochastics (14,3)	6.62	OVERSOLD	The low Stochastics value suggests MITK may be oversold.
Average True Range in percent/ATR (20)	3.16	MEDIUM VOLATILITY	The ATR as a percentage value for MITK suggests some volalility.
Average Directional Index/ADX (14)	15.18	NEGATIVE	The low ADX value for MITK suggests a weak or negative trend.