Global X Junior MLP ETF (MLPJ) Technical Analysis
NYSEARCA:MLPJ
Current stock price
MLPJ Technical Rating and Analysis
Taking everything into account, MLPJ scores 1 out of 10 in our technical rating. MLPJ scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- 68% of all other stocks performed better in the past year than MLPJ.
- MLPJ is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- Warning: MLPJ has an average volume of 9190 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- In the last month MLPJ has a been trading in the 7.31 - 7.77 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- Volume is considerably higher in the last couple of days.
MLPJ Weekly and Daily overview Charts
MLPJ Setup Rating and Analysis
MLPJ has a bad technical rating, but it does show a decent setup pattern. 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.
More info and screens
MLPJ Support and Resistance Analysis
6.98
We found 3 important support areas.
- 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.
MLPJ 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 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. |
MLPJ Chart- and CandleStick Pattern Analysis
MLPJ Technicals: Chart, Performance Metrics, Trend & Indicators
NYSEARCA:MLPJ (10/6/2017, 8:07:20 PM)
7.7
+0.25 (+3.36%)
Global X Junior MLP ETF / MLPJ TA FAQ
What is the ChartMill technical rating of Global X Junior MLP ETF (MLPJ) stock?
ChartMill assigns a technical rating of 1 / 10 to MLPJ.
Can you provide the trend direction for Global X Junior MLP ETF?
The current trend direction for Global X Junior MLP ETF (MLPJ) is Bearish.
What is the RSI signal for Global X Junior MLP ETF (MLPJ) stock?
Global X Junior MLP ETF (MLPJ) has an RSI value of 54.4459. This indicates that the stock is currently neutral.
What is the MACD signal for Global X Junior MLP ETF (MLPJ) stock?
The MACD indicator for Global X Junior MLP ETF (MLPJ) has a value of -0.00702725, indicating a bearish trend.
What are the support and resistance levels for Global X Junior MLP ETF (MLPJ) stock?
Global X Junior MLP ETF (MLPJ) has a support level at 7.69 and a resistance level at 7.75. Check the full technical report for our detailed analysis of MLPJ support and resistance levels.