MILLICOM INTL CELLULAR S.A. (TIGO) Stock Technical Analysis
NASDAQ:TIGO - Nasdaq - LU0038705702 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to TIGO. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TIGO is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, TIGO did better than 90% of all other stocks. We also observe that the gains produced by TIGO over the past year are nicely spread over this period.
TIGO is part of the Wireless Telecommunication Services industry. There are 21 other stocks in this industry. TIGO outperforms 80% of them.
TIGO is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month TIGO has a been trading in the 35.62 - 38.91 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.
Besides having an excellent technical rating, TIGO also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 37.54, 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
26.19
38.76
We found 5 important support areas.
- A support zone ranging from 37.19 to 37.54. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 35.48 to 36.33. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @32.90 from a trend line in the weekly time frame.
- Support @30.27 from a trend line in the daily time frame.
- A support zone ranging from 26.45 to 26.50. This zone is formed by a combination of multiple trend lines in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 37.91 to 38.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 TIGO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TIGO is up. |
| ChartMill Relative Strength | 90.45 | POSITIVE | TIGO has a high relative strength, it outperformed 90.45% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TIGO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TIGO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TIGO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.93 | NEUTRAL | The RSI value for TIGO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests TIGO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 56.66 | NEUTRAL | The Stochastics value for TIGO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.77 | MEDIUM VOLATILITY | The ATR as a percentage value for TIGO suggests some volalility. |
| Average Directional Index/ADX (14) | 19.69 | NEGATIVE | The low ADX value for TIGO suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 38.39 | 37.18 | 1.21 (3.15%) | 25.00% |
| An entry @38.39. This is a Buy Stop order right above the resistance zone. | An exit @37.18. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.21 points, which is 3.15%. | For a 0.79% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of TIGO. Please evaluate whether better entry and exit points can be found.
- 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.
37.89
+0.45 (+1.2%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryWireless Telecommunication Services
Performance
% Chg1.2%
1 Week-0.03%
2 Weeks5.19%
1 Month3.38%
3 Month33.13%
6 Month58.93%
12 Month52.91%
2 Year142.57%
3 Year139.36%
5 Year27.36%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.98
ATR(20)%2.77%
ATR Inc-27.27%
Range Today0.82
ADR(20)0.99
ADR(20)%2.62%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.45
Mansfield2.11
10 Day High38.92
10 Day Low36
20 Day High38.92
20 Day Low35.62
52 Week High38.92
52 Week Low23.61
CS1 End37.54
CR1 Start37.91
Volume & EV
DER(3)1.57%
DER(5)-0.21%
Volume699.00K
Volume Incr-11.56%
Vol(5)985.02K
Vol(50)895.33K