MGP INGREDIENTS INC. - Daily - Technical analysis published on 08/16/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 54.91 USD
My targets
43.05 USD (-10.78%)
34.21 USD (-29.10%)
My analysis
The bearish trend is currently very strong for MGP INGREDIENTS INC.. As long as the price remains below the resistance at 54.91 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 43.05 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 34.21 USD as an objective. Crossing it would then enable sellers to target 22.55 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MGP INGREDIENTS INC. rating 48.25 USD. The price has increased by +0.71% since the last closing and was traded between 47.74 USD and 48.70 USD over the period. The price is currently at +1.07% from its lowest and -0.92% from its highest.47.74
48.70
48.25
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MGP INGREDIENTS INC.:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in Daily of this MGP INGREDIENTS INC. chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA50 & AMA100
Type : Bearish
Timeframe : Daily
Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 22.55 | 34.21 | 43.05 | 48.25 | 54.91 | 60.21 | 71.99 |
| Change (%) | -53.26% | -29.10% | -10.78% | - | +13.80% | +24.79% | +49.20% |
| Change | -25.70 | -14.04 | -5.20 | - | +6.66 | +11.96 | +23.74 |
| Level | Intermediate | Major | Intermediate | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.16 | 46.99 | 47.45 | 48.27 | 48.73 | 49.56 | 50.02 |
| Camarilla | 47.56 | 47.67 | 47.79 | 47.91 | 48.03 | 48.15 | 48.26 |
| Woodie | 45.98 | 46.90 | 47.27 | 48.18 | 48.55 | 49.47 | 49.84 |
| Fibonacci | 46.99 | 47.48 | 47.78 | 48.27 | 48.76 | 49.07 | 49.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 39.74 | 44.42 | 47.88 | 52.56 | 56.02 | 60.70 | 64.16 |
| Camarilla | 49.10 | 49.85 | 50.59 | 51.34 | 52.09 | 52.83 | 53.58 |
| Woodie | 39.13 | 44.12 | 47.27 | 52.26 | 55.41 | 60.40 | 63.55 |
| Fibonacci | 44.42 | 47.53 | 49.45 | 52.56 | 55.67 | 57.59 | 60.70 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.23 | 31.74 | 40.87 | 55.38 | 64.51 | 79.02 | 88.15 |
| Camarilla | 43.49 | 45.66 | 47.82 | 49.99 | 52.16 | 54.32 | 56.49 |
| Woodie | 14.53 | 30.40 | 38.17 | 54.04 | 61.81 | 77.68 | 85.45 |
| Fibonacci | 31.74 | 40.77 | 46.35 | 55.38 | 64.41 | 69.99 | 79.02 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.29 | |
| MACD (12,26,9): | -4.6600 | |
| Directional Movement: | -29.09 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 49.43 | |
| Parabolic SAR (0,02-0,02-0,2): | 64.60 | |
| Elder Ray (13): | -4.20 | |
| Super Trend (3,10): | 57.16 | |
| Zig ZAG (10): | 48.24 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 8.25 | |
| TEMA (21): | 46.56 | |
| Williams %R (14): | -92.14 | |
| Chande Momentum Oscillator (20): | -1.87 | |
| Repulse (5,40,3): | -5.3000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.8800 | |
| Courbe Coppock: | 46.74 |
| MA7: | 49.63 | |
| MA20: | 57.00 | |
| MA50: | 62.02 | |
| MA100: | 67.57 | |
| MAexp7: | 49.79 | |
| MAexp20: | 55.08 | |
| MAexp50: | 60.71 | |
| MAexp100: | 64.78 | |
| Price / MA7: | -2.78% | |
| Price / MA20: | -15.35% | |
| Price / MA50: | -22.20% | |
| Price / MA100: | -28.59% | |
| Price / MAexp7: | -3.09% | |
| Price / MAexp20: | -12.40% | |
| Price / MAexp50: | -20.52% | |
| Price / MAexp100: | -25.52% |
News
The latest news and videos published on MGP INGREDIENTS INC. at the time of the analysis were as follows:
- MGP Ingredients, Inc. to Host Earnings Call
- Investor Network: MGP Ingredients, Inc. to Host Earnings Call
-
MGP Ingredients
- MGP Board Chair Adopts 10b5-1 Share Trading Plan
- Accomplished Beverage Industry Executive Andrew Mansinne Joins MGP as Vice President of Brands
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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