NYSEARCA:MJ - NYSE Arca - US0321084743 - ETF - Currency: USD
We assign a technical rating of 8 out of 10 to MJ. Although MJ is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Although MJ 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.
16.08
3 important support areas can be observed.
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 MJ is up. |
ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MJ is up. |
ChartMill Relative Strength | 79.37 | POSITIVE | MJ has a high relative strength, it outperformed 79.37% off all stocks on the market. |
Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MJ is above the rising SMA(20). |
Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MJ is above the rising SMA(50). |
Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MJ is above a declining SMA(200). |
Relative Strength Index/RSI (14) | 64.01 | NEUTRAL | The RSI value for MJ is a neutral value. |
Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.51 | POSITIVE | The MACD value suggests MJ has a positive trend, although the MACD value is declining. |
Stochastics (14,3) | 75.23 | NEUTRAL | The Stochastics value for MJ is a neutral value. |
Average True Range in percent/ATR (20) | 6.68 | HIGH VOLATILITY | The high ATR as a percentage value for MJ suggests high volalility. |
Average Directional Index/ADX (14) | 47.38 | POSITIVE | The high ADX value value for MJ suggests a strong trend. |
31.42
+1.25 (+4.14%)