MYX Technical Analysis - MYCELX TECHNOLOGIES CORP-ADD

Technical Rating and Analysis

Overall MYX gets a technical rating of 2 out of 10. In the past year, MYX was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.

98% of all other stocks performed better in the past year than MYX.

MYX 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.

MYX is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

Warning: MYX has an average volume of 4008 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

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

MYCELX TECHNOLOGIES CORP-ADD / MYX Weekly stock chart

MYCELX TECHNOLOGIES CORP-ADD / MYX Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, MYX does present a nice setup opportunity. 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 56.01. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

51.97

66.19

When analyzing the support we notice one important area.

A support zone ranging from 52.49 to 52.49. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 2 important resistance areas.

A resistance zone ranging from 56.01 to 56.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @65.53 from a trend line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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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 MYX.L is down.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MYX.L is up.
ChartMill Relative Strength	2.66	NEGATIVE	MYX.L has a low relative strength, it was outperformed by 97.34% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MYX.L is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MYX.L is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MYX.L is below a declining SMA(200).
Relative Strength Index/RSI (14)	56.9	NEUTRAL	The RSI value for MYX.L is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.3	POSITIVE	The MACD value suggests MYX.L has a positive trend, although the MACD value is declining.
Stochastics (14,3)	75	NEUTRAL	The Stochastics value for MYX.L is a neutral value.
Average True Range in percent/ATR (20)	2.74	MEDIUM VOLATILITY	The ATR as a percentage value for MYX.L suggests some volalility.