MULTI METAL DEVELOPMENT LTD (MLY.CA) Stock Technical Analysis
Canada - TSX Venture Exchange - TSX-V:MLY - CA62542M1068 - Common Stock
Taking everything into account, MLY scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, MLY has proven to be a steady performer, scoring decent points in every aspect analyzed.
MLY has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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.
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2 important support areas can be observed.
- 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.
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. |
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.
TSX-V:MLY (3/17/2023, 7:00:00 PM)
0.04
+0 (+14.29%)
MULTI METAL DEVELOPMENT LTD / MLY.CA FAQ
What is the technical rating for MLY stock?
ChartMill assigns a technical rating of 8 / 10 to MLY.CA.
What is the current trend direction of MULTI METAL DEVELOPMENT LTD (MLY.CA) 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.
Can you provide the buy/sell signal for MULTI METAL DEVELOPMENT LTD?
The buy/sell signal for MULTI METAL DEVELOPMENT LTD (MLY.CA) is buy as both the short term and long term trends are positive.
What is the support and resistance level for MLY stock?
MULTI METAL DEVELOPMENT LTD (MLY.CA) has a support level at 0.03 and a resistance level at 0.04. Check the full technical report for our detailed analysis of MLY.CA support and resistance levels.