We assign a technical rating of 0 out of 10 to MGX. MGX 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, MGX does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 1.53, a Stop Loss order could be placed below this zone.
More info and screens
1.39
We found 2 important support areas.
- A support zone ranging from 1.50 to 1.53. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.40 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 4 important areas.
- Resistance @1.61 from a trend line in the daily time frame.
- A resistance zone ranging from 1.68 to 1.69. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 1.82 to 1.83. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @2.84 from a trend line in the weekly 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 MGX is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MGX is down. |
| ChartMill Relative Strength | 7.13 | NEGATIVE | MGX has a low relative strength, it was outperformed by 92.87% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGX is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 37.77 | NEUTRAL | The RSI value for MGX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests MGX has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 43.04 | NEUTRAL | The Stochastics value for MGX is a neutral value. |
| Average True Range in percent/ATR (20) | 7.54 | HIGH VOLATILITY | The high ATR as a percentage value for MGX suggests high volalility. |
| Average Directional Index/ADX (14) | 25.32 | POSITIVE | The high ADX value value for MGX suggests a strong trend. |
1.61
-0.04 (-2.42%)
METAGENOMI INC / MGX FAQ
Can you provide the ChartMill technical rating for METAGENOMI INC?
ChartMill assigns a technical rating of 0 / 10 to MGX.
Can you provide the trend direction for METAGENOMI INC?
The current trend direction for METAGENOMI INC (MGX) is Bearish.
What is the RSI signal for MGX stock?
METAGENOMI INC (MGX) has an RSI value of 37.7679. This indicates that the stock is currently neutral.
What is the short term momentum for METAGENOMI INC (MGX) stock?
The short term momentum for METAGENOMI INC (MGX) is negative.
What is the support and resistance level for MGX stock?
METAGENOMI INC (MGX) has a support level at 1.53 and a resistance level at 1.61. Check the full technical report for our detailed analysis of MGX support and resistance levels.