MITEK SYSTEMS INC (MITK) Stock Technical Analysis
NASDAQ:MITK - Nasdaq - US6067102003 - Common Stock - Currency: USD
We assign a technical rating of 4 out of 10 to MITK. In the past year, MITK was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is only medium, MITK does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 9.38, a Stop Loss order could be placed below this zone.
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8.98
When analyzing the support we notice one important area.
- A support zone ranging from 9.07 to 9.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 9.53 to 9.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | NEUTRAL | NEUTRAL | The short term trend for MITK is neutral. |
| ChartMill Relative Strength | 24.26 | NEGATIVE | MITK has a low relative strength, it was outperformed by 75.74% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MITK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MITK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MITK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.38 | NEUTRAL | The RSI value for MITK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests MITK has a negative trend. |
| Stochastics (14,3) | 18.64 | OVERSOLD | The low Stochastics value suggests MITK may be oversold. |
| Average True Range in percent/ATR (20) | 4.2 | MEDIUM VOLATILITY | The ATR as a percentage value for MITK suggests some volalility. |
| Average Directional Index/ADX (14) | 41.34 | POSITIVE | The high ADX value value for MITK suggests a strong trend. |
9.39
+0.21 (+2.29%)