MITEL NETWORKS CORP (MITL) Stock Technical Analysis
NASDAQ:MITL - Nasdaq - CA60671Q1046
We assign a technical rating of 9 out of 10 to MITL. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MITL is showing a nice and steady performance.
Both the short term and long term trends are positive. This is a very positive sign.
Looking at the yearly performance, MITL did better than 94% of all other stocks.
MITL is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so MITL is leading the market.
MITL has an average volume of 1282750 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month MITL has a been trading in a tight range between 10.93 and 11.16.
Volume is considerably higher in the last couple of days.
Although MITL has an excellent technical rating, it does not offer a high quality setup 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.
More info and screens
10.34
11.32
When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.95 to 11.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @10.44 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 11.21 to 11.21. 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 MITL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MITL is up. |
| ChartMill Relative Strength | 94.2 | POSITIVE | MITL has a high relative strength, it outperformed 94.2% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MITL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MITL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MITL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 74.15 | OVERBOUGHT | The high RSI value suggests MITL may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests MITL has a positive trend. |
| Stochastics (14,3) | 94.99 | OVERBOUGHT | The high Stochastics value suggests MITL may be overbought. |
| Average True Range in percent/ATR (20) | 0.34 | LOW VOLATILITY | The low ATR as a percentage value for MITL suggests low volalility. |
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)
11.15
+0.01 (+0.09%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.09%
1 Week1.73%
2 Weeks1.55%
1 Month1.55%
3 Month1.36%
6 Month1%
12 Month42.95%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.04
ATR(20)%0.34%
ATR Inc-38.6%
Range Today0.02
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS94.2
Mansfield0.97
10 Day High11.16
10 Day Low10.95
20 Day High11.16
20 Day Low10.93
52 Week High11.31
52 Week Low7.13
CS1 End11.07
CR1 Start11.21
Volume & EV
DER(3)2.62%
DER(5)1.76%
Volume8.86M
Volume Incr353.69%
Vol(5)4.38M
Vol(50)1.28M