GLOBAL X MSCI NIGERIA ETF (NGE) Stock Technical Analysis
USA - NYSEARCA:NGE - US37954Y6656 - ETF
Taking everything into account, NGE scores 1 out of 10 in our technical rating. NGE scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, NGE does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 3.76. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.72, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NGE 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
3.58
We found 1 important support area.
- A support zone ranging from 3.62 to 3.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 3.76 to 3.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @5.92 from a trend line in the daily time frame.
- Resistance @6.20 from a trend line 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 NGE is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for NGE is down. |
| ChartMill Relative Strength | 5.93 | NEGATIVE | NGE has a low relative strength, it was outperformed by 94.07% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NGE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of NGE is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of NGE is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 37.63 | NEUTRAL | The RSI value for NGE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests NGE has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 77.32 | NEUTRAL | The Stochastics value for NGE is a neutral value. |
| Average True Range in percent/ATR (20) | 2.12 | MEDIUM VOLATILITY | The ATR as a percentage value for NGE suggests some volalility. |
| Average Directional Index/ADX (14) | 43.98 | POSITIVE | The high ADX value value for NGE suggests a strong trend. |
NYSEARCA:NGE (3/25/2024, 8:04:00 PM)
3.74
0 (0%)
GLOBAL X MSCI NIGERIA ETF / NGE FAQ
Can you provide the ChartMill technical rating for GLOBAL X MSCI NIGERIA ETF?
ChartMill assigns a technical rating of 1 / 10 to NGE.
What is the trend direction for NGE stock?
The current trend direction for GLOBAL X MSCI NIGERIA ETF (NGE) is Bearish.
What is the RSI signal for GLOBAL X MSCI NIGERIA ETF (NGE) stock?
GLOBAL X MSCI NIGERIA ETF (NGE) has an RSI value of 37.633. This indicates that the stock is currently neutral.
What is the short term momentum for GLOBAL X MSCI NIGERIA ETF (NGE) stock?
The short term momentum for GLOBAL X MSCI NIGERIA ETF (NGE) is negative.
What are the support and resistance levels for GLOBAL X MSCI NIGERIA ETF (NGE) stock?
GLOBAL X MSCI NIGERIA ETF (NGE) has a support level at 3.72 and a resistance level at 3.76. Check the full technical report for our detailed analysis of NGE support and resistance levels.