MLGO Technical Analysis - MICROALGO INC

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to MLGO. MLGO's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

99% of all other stocks performed better in the past year than MLGO.

MLGO is one of the lesser performing stocks in the IT Services industry. 88% of 87 stocks in the same industry do better.

MLGO is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

MLGO has an average volume of 2151520 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month MLGO has a been trading in the 7.82 - 13.60 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

The technical rating of MLGO is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

10.50

12.24

When analyzing the support we notice one important area.

A support zone ranging from 10.61 to 10.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

We found 1 important resistance area.

Resistance @12.12 from a horizontal line in the daily time frame.

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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	DOWN	NEGATIVE	The long term trend for MLGO is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for MLGO is neutral.
ChartMill Relative Strength	1.15	NEGATIVE	MLGO has a low relative strength, it was outperformed by 98.85% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MLGO is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of MLGO is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MLGO is below a declining SMA(200).
Relative Strength Index/RSI (14)	52.28	NEUTRAL	The RSI value for MLGO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.59	POSITIVE	The MACD value suggests MLGO has a positive trend, although the MACD value is declining.
Stochastics (14,3)	58.3	NEUTRAL	The Stochastics value for MLGO is a neutral value.
Average True Range in percent/ATR (20)	8.77	HIGH VOLATILITY	The high ATR as a percentage value for MLGO suggests high volalility.
Average Directional Index/ADX (14)	18.4	NEGATIVE	The low ADX value for MLGO suggests a weak or negative trend.