RIGL Technical Analysis - RIGEL PHARMACEUTICALS INC

Technical Rating and Analysis

Overall RIGL gets a technical rating of 6 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

RIGL 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.

Looking at the yearly performance, RIGL did better than 93% of all other stocks.

RIGL is part of the Biotechnology industry. There are 536 other stocks in this industry. RIGL outperforms 84% of them.

The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

RIGL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so RIGL is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

RIGEL PHARMACEUTICALS INC / RIGL Weekly stock chart

RIGEL PHARMACEUTICALS INC / RIGL Daily stock chart

Setup Rating and Analysis

RIGL has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

18.08

29.80

We found 5 important support areas.

A support zone ranging from 28.12 to 28.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @21.25 from a trend line in the weekly time frame.
A support zone ranging from 20.62 to 20.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @18.95 from a horizontal line in the daily time frame.
Support @18.26 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

Resistance @29.50 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	UP	POSITIVE	The long term trend for RIGL is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for RIGL is down.
ChartMill Relative Strength	93.41	POSITIVE	RIGL has a high relative strength, it outperformed 93.41% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of RIGL is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of RIGL is below the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of RIGL is above the rising SMA(200).
Relative Strength Index/RSI (14)	33.98	NEUTRAL	The RSI value for RIGL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.25	NEGATIVE	The MACD value suggests RIGL has a negative trend, although the MACD value is rising.
Stochastics (14,3)	17.74	OVERSOLD	The low Stochastics value suggests RIGL may be oversold.
Average True Range in percent/ATR (20)	6.05	HIGH VOLATILITY	The high ATR as a percentage value for RIGL suggests high volalility.
Average Directional Index/ADX (14)	30.29	POSITIVE	The high ADX value value for RIGL suggests a strong trend.