MREO Technical Analysis - MEREO BIOPHARMA GROUP PL-ADR

Technical Rating and Analysis

Overall MREO gets a technical rating of 1 out of 10. MREO 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 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.

When comparing the yearly performance of all stocks, MREO is a bad performer in the overall market: 98% of all stocks are doing better.

MREO is one of the lesser performing stocks in the Biotechnology industry. 83% of 540 stocks in the same industry do better.

MREO 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.

MREO has an average volume of 2438850 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month MREO has a been trading in the 1.60 - 1.88 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.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MEREO BIOPHARMA GROUP PL-ADR / MREO Weekly stock chart

MEREO BIOPHARMA GROUP PL-ADR / MREO Daily stock chart

Setup Rating and Analysis

MREO has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.71

2.94

5 important resistance areas can be observed.

A resistance zone ranging from 1.78 to 1.78. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 1.86 to 1.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @2.35 from a trend line in the weekly time frame.
Resistance @2.62 from a trend line in the daily time frame.
Resistance @2.91 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 MREO is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for MREO is neutral.
ChartMill Relative Strength	2.76	NEGATIVE	MREO has a low relative strength, it was outperformed by 97.24% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of MREO is below the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MREO is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MREO is below a declining SMA(200).
Relative Strength Index/RSI (14)	46.01	NEUTRAL	The RSI value for MREO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.01	POSITIVE	The MACD value suggests MREO has a positive trend, although the MACD value is declining.
Stochastics (14,3)	40.91	NEUTRAL	The Stochastics value for MREO is a neutral value.
Average True Range in percent/ATR (20)	4.35	MEDIUM VOLATILITY	The ATR as a percentage value for MREO suggests some volalility.
Average Directional Index/ADX (14)	15.69	NEGATIVE	The low ADX value for MREO suggests a weak or negative trend.