MULTI METAL DEVELOPMENT LTD (MLY.CA) Technical Analysis
TSX-V:MLY • CA62542M1068
Current stock price
MLY.CA Technical Rating and Analysis
We assign a technical rating of 9 out of 10 to MLY. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MLY is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- MLY is one of the better performing stocks in the Metals & Mining industry, it outperforms 94% of 815 stocks in the same industry.
- When comparing the yearly performance of all stocks, we notice that MLY 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.
- MLY is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MLY is lagging the market slightly.
- In the last month MLY has a been trading in the 0.03 - 0.04 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
MLY.CA Weekly and Daily overview Charts
MLY.CA Setup Rating and Analysis
Besides having an excellent technical rating, MLY 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 0.04. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.03, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MLY 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
MLY.CA Support and Resistance Analysis
0.01
We found 2 important support areas.
- A support zone ranging from 0.03 to 0.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @0.01 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 0.04 to 0.04. This zone is formed by a combination of multiple trend lines in the daily time frame.
MLY.CA 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 MLY.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MLY.CA is up. |
| ChartMill Relative Strength | 97.83 | POSITIVE | MLY.CA has a high relative strength, it outperformed 97.83% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MLY.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MLY.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MLY.CA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.45 | NEUTRAL | The RSI value for MLY.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests MLY.CA has a positive trend. |
| Stochastics (14,3) | 66.67 | NEUTRAL | The Stochastics value for MLY.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 12.5 | HIGH VOLATILITY | The high ATR as a percentage value for MLY.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 24.18 | NEUTRAL | The ADX value for MLY.CA suggests a possible start of a new trend. |
MLY.CA Chart- and CandleStick Pattern Analysis
MLY.CA 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 |
|---|---|---|---|
| 0.05 | 0.02 | 0.03 (60.00%) | 1.67% |
| An entry @0.05. This is a Buy Stop order right above the resistance zone. | An exit @0.02. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.03 points, which is 60.00%. | When investing 1.67% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
MLY.CA Technicals: Chart, Performance Metrics, Trend & Indicators
TSX-V:MLY (3/17/2023, 7:00:00 PM)
0.04
+0 (+14.29%)
MULTI METAL DEVELOPMENT LTD / MLY.CA TA FAQ
What is the technical rating for MLY stock?
ChartMill assigns a technical rating of 8 / 10 to MLY.CA.
What is the trend direction for MLY stock?
The current trend direction for MULTI METAL DEVELOPMENT LTD (MLY.CA) is Bullish.
What is the RSI signal for MULTI METAL DEVELOPMENT LTD (MLY.CA) stock?
MULTI METAL DEVELOPMENT LTD (MLY.CA) has an RSI value of 55.4482. This indicates that the stock is currently neutral.
What is the MACD signal for MULTI METAL DEVELOPMENT LTD (MLY.CA) stock?
The MACD indicator for MULTI METAL DEVELOPMENT LTD (MLY.CA) has a value of 0.0000221982, indicating a bearish trend.
What is the short term momentum for MULTI METAL DEVELOPMENT LTD (MLY.CA) stock?
The short term momentum for MULTI METAL DEVELOPMENT LTD (MLY.CA) is positive.