Taking everything into account, MITK scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MITK is only an average performer.
Besides having an excellent technical rating, MITK also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 10.59. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.55, a Stop Loss order could be placed below this zone.
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5 important support areas can be observed.
- A support zone ranging from 10.44 to 10.55. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 10.14 to 10.25. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 9.86 to 9.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.00 to 9.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 8.80 to 8.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 10.59 to 10.60. This zone is formed by a combination of multiple trend lines 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 | UP | POSITIVE | The long term trend for MITK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MITK is up. |
| ChartMill Relative Strength | 61.95 | NEUTRAL | MITK is not amongst the best or worst performers 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) | 62.13 | NEUTRAL | The RSI value for MITK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MITK has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 76.7 | NEUTRAL | The Stochastics value for MITK is a neutral value. |
| Average True Range in percent/ATR (20) | 3.78 | MEDIUM VOLATILITY | The ATR as a percentage value for MITK suggests some volalility. |
| Average Directional Index/ADX (14) | 27.08 | POSITIVE | The high ADX value value for MITK suggests a strong trend. |
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 |
|---|---|---|---|
| 10.61 | 10.43 | 0.18 (1.70%) | 25.00% |
| An entry @10.61. This is a Buy Stop order right above the resistance zone. | An exit @10.43. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.18 points, which is 1.70%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.42%. |
- The distance between exit and entry is rather small compared to the average daily movement of MITK. 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.
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MITEK SYSTEMS INC / MITK FAQ
What is the ChartMill technical rating of MITEK SYSTEMS INC (MITK) stock?
ChartMill assigns a technical rating of 8 / 10 to MITK.
What is the trend direction for MITK stock?
The current trend direction for MITEK SYSTEMS INC (MITK) is Bullish.
What is the RSI signal for MITEK SYSTEMS INC (MITK) stock?
MITEK SYSTEMS INC (MITK) has an RSI value of 62.1317. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MITEK SYSTEMS INC?
The MACD indicator for MITEK SYSTEMS INC (MITK) has a value of -0.014627, indicating a bearish trend.
What is the buy/sell signal for MITEK SYSTEMS INC (MITK) stock?
The buy/sell signal for MITEK SYSTEMS INC (MITK) is buy as both the short term and long term trends are positive.