Global X Junior MLP ETF (MLPJ) Stock Technical Analysis
NYSEARCA:MLPJ - NYSE Arca -
Overall MLPJ gets a technical rating of 1 out of 10. MLPJ'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.
Although the technical rating is bad, MLPJ does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 7.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.69, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MLPJ in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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6.98
3 important support areas can be observed.
- A support zone ranging from 7.49 to 7.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 7.26 to 7.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @7.05 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 7.75 to 7.85. 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 | DOWN | NEGATIVE | The long term trend for MLPJ is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MLPJ is neutral. |
| ChartMill Relative Strength | 32.66 | NEUTRAL | MLPJ is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MLPJ is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MLPJ is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MLPJ is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.45 | NEUTRAL | The RSI value for MLPJ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MLPJ has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 66.67 | NEUTRAL | The Stochastics value for MLPJ is a neutral value. |
| Average True Range in percent/ATR (20) | 2.09 | MEDIUM VOLATILITY | The ATR as a percentage value for MLPJ suggests some volalility. |
NYSEARCA:MLPJ (10/6/2017, 8:07:20 PM)
7.7
+0.25 (+3.36%)