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GLOBAL X MSCI NIGERIA ETF (NGE) Stock Technical Analysis

NYSEARCA:NGE - NYSE Arca - US37954Y6656 - ETF - Currency: USD

3.74  0 (0%)

Technical Rating and Analysis

1

Taking everything into account, NGE scores 1 out of 10 in our technical rating. NGE's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
When comparing the yearly performance of all stocks, NGE is a bad performer in the overall market: 95% of all stocks are doing better.
NGE is currently trading near the lower end of its 52 week range, which is not a good sign. NGE is lagging the S&P500 Index which is trading in the middle of its 52 week range.
NGE 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: NGE has an average volume of 25316 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
Considerably lower volume is observed in the last couple of days.

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Weekly and Daily overview Charts
GLOBAL X MSCI NIGERIA ETF / NGE Weekly stock chart
GLOBAL X MSCI NIGERIA ETF / NGE Daily stock chart
Setup Rating and Analysis

9

NGE has a bad technical rating, but it does show a decent setup pattern. 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 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.

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Support and Resistance Analysis

3.58

6.26

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.

We can see 3 important resistance areas.

  • 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.

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Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS5.93
Mansfield-5.89
10 Day High3.8
10 Day Low3.7
20 Day High3.8
20 Day Low3.55
52 Week High10.89
52 Week Low3.55
Performance
1 Week-0.8%
2 Weeks-1.06%
1 Month1.8%
3 Month-31.5%
6 Month-56.39%
12 Month-57.45%
2 Year-60.63%
3 Year-68.54%
5 Year-77.85%
10 Year-93.37%
15 YearN/A

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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)

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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)
Technical Indicators
MACD(12,26,9)0.05
RSI(14)37.63
LBB3.7
UBB3.81

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GLOBAL X MSCI NIGERIA ETF / NGE Daily stock chart

GLOBAL X MSCI NIGERIA ETF

NYSEARCA:NGE (3/25/2024, 8:04:00 PM)

3.74

0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0%
1 Week-0.8%
2 Weeks-1.06%
1 Month1.8%
3 Month-31.5%
6 Month-56.39%
12 Month-57.45%
2 Year-60.63%
3 Year-68.54%
5 Year-77.85%
10 Year-93.37%
15 YearN/A
Volatility
ATR(14)0.07
ATR(20)%2.12%
ATR Inc-54.84%
Range Today0.02
ADR(20)0.08
ADR(20)%2.11%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS5.93
Mansfield-5.89
10 Day High3.8
10 Day Low3.7
20 Day High3.8
20 Day Low3.55
52 Week High10.89
52 Week Low3.55
CS1 End3.72
CR1 Start3.76
Volume & EV
DER(3)3.07%
DER(5)5.22%
Volume18.20K
Volume Incr-51.7%
Vol(5)11.50K
Vol(50)25.32K