MINEWORX TECHNOLOGIES LTD (MWX.CA) Stock Technical Analysis
TSX-V:MWX - TSX Venture Exchange - CA6034653031 - Common Stock - Currency: CAD
We assign a technical rating of 8 out of 10 to MWX. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MWX is showing a nice and steady performance.
Besides having an excellent technical rating, MWX 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 0.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.07, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
0.05
When analyzing the support we can see 3 important areas.
- A support zone ranging from 0.07 to 0.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 0.06 to 0.06. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @0.05 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 0.09 to 0.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @0.15 from a trend line in the weekly 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 MWX.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MWX.CA is up. |
| ChartMill Relative Strength | 92.75 | POSITIVE | MWX.CA has a high relative strength, it outperformed 92.75% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MWX.CA is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MWX.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MWX.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.52 | NEUTRAL | The RSI value for MWX.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests MWX.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 88.89 | OVERBOUGHT | The high Stochastics value suggests MWX.CA may be overbought. |
| Average True Range in percent/ATR (20) | 11.56 | HIGH VOLATILITY | The high ATR as a percentage value for MWX.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 19.31 | NEGATIVE | The low ADX value for MWX.CA suggests a weak or negative 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 |
|---|---|---|---|
| 0.10 | 0.06 | 0.04 (45.00%) | 2.22% |
| An entry @0.10. This is a Buy Stop order right above the resistance zone. | An exit @0.06. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.04 points, which is 45.00%. | When investing 2.22% 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:MWX (1/19/2023, 7:00:00 PM)
0.08
0 (0%)