MDGL Target Price: 88% Confidence
MDGL has been forming a bullish Head-and-Shoulders Bottom pattern since February 28, 2023. This pattern is a reliable bullish indicator and occurs when a stock's price falls to a low, bounces back up, forms a lower low, bounces back up again to form a higher low, and then breaks above the resistance level formed by the neckline of the pattern. This pattern signals that the stock is likely to experience a bullish move in the near future.
The Head-and-Shoulders Bottom pattern for MDGL was confirmed on April 24, 2023, when the stock broke above the neckline of the pattern. This confirmed the bullish signal and suggested that the stock could be headed higher in the coming weeks.
Currently, there is a high confidence level of 88% that MDGL will reach the target price of 358.47 USD. The distance to the target price is 17%, which means that there is still some room for the stock to move higher. The breakout (entry) price is 306.92 USD, which can be used as a reference point for traders to enter the stock.
Adding to the bullish sentiment is the recent trigger of the Aroon Indicator. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. This is a sign that the stock is setting up for a bullish move. In fact, A.I.dvisor looked at 147 similar instances where the Aroon Indicator showed a similar pattern, and in 127 of those cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 86%.
In conclusion, MDGL's Head-and-Shoulders Bottom pattern and the recent trigger of the Aroon Indicator suggest that the stock is likely to experience a bullish move in the coming weeks. With a high confidence level of 88% and the distance to the target price at 17%, there is still room for the stock to move higher. Traders may want to consider buying the stock or look to buy call options to take advantage of the potential upside.
MDGL's RSI Indicator leaves overbought zone
The 10-day RSI Oscillator for MDGL moved out of overbought territory on May 01, 2023. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 20 instances where the indicator moved out of the overbought zone. In of the 20 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on May 25, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on MDGL as a result. In of 103 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for MDGL turned negative on May 09, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 54 similar instances when the indicator turned negative. In of the 54 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MDGL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 68 cases where MDGL's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The 10-day moving average for MDGL crossed bullishly above the 50-day moving average on April 21, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 23 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MDGL advanced for three days, in of 273 cases, the price rose further within the following month. The odds of a continued upward trend are .
MDGL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 147 cases where MDGL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. MDGL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 94, placing this stock slightly better than average.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (34.722) is normal, around the industry mean (24.808). P/E Ratio (0.000) is within average values for comparable stocks, (123.006). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (4.316). Dividend Yield (0.000) settles around the average of (0.030) among similar stocks. P/S Ratio (0.000) is also within normal values, averaging (303.248).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
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