Majesco (MJCO) Technical Analysis
NYSEARCA:MJCO • US56068V1026
Current stock price
MJCO Technical Rating and Analysis
Overall MJCO gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MJCO is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- MJCO 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 MJCO is leading the market.
- MJCO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- When comparing the yearly performance of all stocks, we notice that MJCO is one of the better performing stocks in the market, outperforming 97% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- In the last month MJCO has a been trading in a tight range between 15.94 and 16.11.
MJCO Weekly and Daily overview Charts
MJCO Setup Rating and Analysis
Besides having an excellent technical rating, MJCO 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 16.02. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 15.99, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
MJCO Support and Resistance Analysis
6.54
When analyzing the support we can see 3 important areas.
- A support zone ranging from 15.96 to 15.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @10.28 from a trend line in the daily time frame.
- Support @6.61 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 16.02 to 16.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
MJCO 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 | UP | POSITIVE | The long term trend for MJCO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MJCO is up. |
| ChartMill Relative Strength | 97.24 | POSITIVE | MJCO has a high relative strength, it outperformed 97.24% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MJCO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MJCO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MJCO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 75.76 | OVERBOUGHT | The high RSI value suggests MJCO may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.17 | NEGATIVE | The MACD value suggests MJCO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 31.25 | NEUTRAL | The Stochastics value for MJCO is a neutral value. |
| Average True Range in percent/ATR (20) | 0.55 | LOW VOLATILITY | The low ATR as a percentage value for MJCO suggests low volalility. |
MJCO Chart- and CandleStick Pattern Analysis
MJCO Example Setup
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 |
|---|---|---|---|
| 16.11 | 15.95 | 0.16 (0.99%) | 25.00% |
| An entry @16.11. This is a Buy Stop order right above the 10 day high. | An exit @15.95. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.16 points, which is 0.99%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.25%. |
- 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.
MJCO Technicals: Chart, Performance Metrics, Trend & Indicators
16
+0.03 (+0.19%)
Majesco / MJCO TA FAQ
What is the technical rating for MJCO stock?
ChartMill assigns a technical rating of 7 / 10 to MJCO.
What is the trend direction for MJCO stock?
The current trend direction for Majesco (MJCO) is Bullish.
What is the RSI signal for MJCO stock?
Majesco (MJCO) has an RSI value of 75.7597. This indicates that the stock is currently overbought.
Can you provide the short term momentum for Majesco?
The short term momentum for Majesco (MJCO) is positive.
What is the buy/sell signal for MJCO stock?
The buy/sell signal for Majesco (MJCO) is buy as both the short term and long term trends are positive.