MAGNACHIP SEMICONDUCTOR CORP (MX) Technical Analysis
NYSE:MX • US55933J2033
Overall MX gets a technical rating of 1 out of 10. MX 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, MX is a bad performer in the overall market: 80% of all stocks are doing better.
- MX is part of the Semiconductors & Semiconductor Equipment industry. There are 115 other stocks in this industry, of which 79% are performing better than MX.
- MX 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.
- In the last month MX has a been trading in the 2.40 - 3.10 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.
Although the technical rating is bad, MX does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 2.78, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MX 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
2.39
4 important support areas can be observed.
- A support zone ranging from 2.73 to 2.78. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.64 from a horizontal line in the weekly time frame.
- Support @2.45 from a trend line in the daily time frame.
- Support @2.41 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 2.82 to 2.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.98 from a trend line in the weekly time frame.
- A resistance zone ranging from 3.05 to 3.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 3.15 to 3.15. 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 | DOWN | NEGATIVE | The long term trend for MX is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MX is neutral. |
| ChartMill Relative Strength | 20.75 | NEGATIVE | MX has a low relative strength, it was outperformed by 79.25% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MX is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MX is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 50.04 | NEUTRAL | The RSI value for MX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests MX has a positive trend. |
| Stochastics (14,3) | 62.26 | NEUTRAL | The Stochastics value for MX is a neutral value. |
| Average True Range in percent/ATR (20) | 5.69 | HIGH VOLATILITY | The high ATR as a percentage value for MX suggests high volalility. |
| Average Directional Index/ADX (14) | 15.01 | NEGATIVE | The low ADX value for MX suggests a weak or negative trend. |
MX Technicals: Chart, Performance Metrics, Trend & Indicators
2.8
+0.07 (+2.56%)
MAGNACHIP SEMICONDUCTOR CORP / MX FAQ
What is the technical rating for MX stock?
ChartMill assigns a technical rating of 1 / 10 to MX.
What is the trend direction for MX stock?
The current trend direction for MAGNACHIP SEMICONDUCTOR CORP (MX) is Bearish.
What is the RSI signal for MX stock?
MAGNACHIP SEMICONDUCTOR CORP (MX) has an RSI value of 50.0372. This indicates that the stock is currently neutral.
What is the MACD signal for MAGNACHIP SEMICONDUCTOR CORP (MX) stock?
The MACD indicator for MAGNACHIP SEMICONDUCTOR CORP (MX) has a value of 0.00744197, indicating a bearish trend.
Can you provide the short term momentum for MAGNACHIP SEMICONDUCTOR CORP?
The short term momentum for MAGNACHIP SEMICONDUCTOR CORP (MX) is neutral.