Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for February 24 2006
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| STOCK: MAD CATZ INTERACTIVE (MCZ) |
WEBSITE: www.madcatz.com |
| CURRENT PRICE: 0.64 |
TREND: SHORT TERM POSSIBLE REVERSAL |
| TARGET PRICE: N/A |
RECOMMENDATION: IT’S A GAMBLE HERE |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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This Canadian gaming stock has been suffering for a while now, but things may get better here, if the technicals being to improve. Taking a look at the long term chart, you can clearly see the stocks swift rise to just over $2, and an equivalently swift decline to its current level. The indicators on this chart are not very impressive, since the MACD has had a negative cross over, and a lot of money has been flowing out of the stock. No wonder the price has dropped so much over this time period. The disturbing money flow picture shows an increasing amount of money coming out over time. The only positive is that everyone who wants to get out, may already have gotten out, but you don’t want to place your bets solely based on that hope. You should continue to watch the long term MACD of any signs of turning up. The price is also close to its support level of about $0.60, which should not be breached; if it does break through this level, stay clear. The short term chart is not entirely impressive as well, but does show some hope of a short term trade. The negative aspects point to the lack of support by the moving averages, the 50 and the 200 day. The MACD on the other hand seems like it wants to turn up here, while the price goes down. This may suggest a divergence, and could be used for a trade, or maybe it would be a gamble here.
All in all, this stock may prove to have impressive gains, only if it holds on the long term chart though, which isn’t clear at all at this time. The short term indicators point to a possible trade here, but the lack of positive money flow is concerning, therefore this would definitely be a gamble here.
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