Daily Technical Analysis Weekly Analysis Monthly Analysis Renko chart MACD chart Bollinger Bands chart Stochastics charts Force Index charts

(Mel) Mel complete technical analysis [charts+indicators] | Buy/Sell Mel | (Mel) share price targets

Complete technical analysis of Mel (Mel) by charts plus indicators, forecast predictions and share price targets for Mel (Mel)

10 day averaged volume of Mel is 11162

Date	Daily Closing Price	Open	High	Low	Volume
27 Wed Sep 2023	19.80	19.84	19.84	19.08	0.211 times
26 Tue Sep 2023	19.84	19.00	19.84	18.25	2.786 times
25 Mon Sep 2023	18.90	19.89	19.89	18.90	0.813 times
22 Fri Sep 2023	19.89	20.99	20.99	19.51	0.319 times
21 Thu Sep 2023	20.04	21.00	21.50	20.01	1.093 times
20 Wed Sep 2023	21.06	20.55	22.47	20.55	0.973 times
18 Mon Sep 2023	21.42	22.64	22.85	21.10	0.671 times
15 Fri Sep 2023	22.09	21.50	22.94	21.40	0.51 times
14 Thu Sep 2023	21.96	21.37	22.69	20.69	1.176 times
13 Wed Sep 2023	21.77	21.35	22.40	21.34	1.05 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 20.3, but if it comes above 20.3, then a intra day buy could be more profitable.
If you take a sell trade below 20.3, then use 20.3 as stoploss and 17.7 as target. However if you take a buy trade in stock , then use 20.3 as stoploss and 22.52 as target.

Share price targets for Mel (Mel)

Target Type	Value
Downside Target	12.11
Downside Target	13.18
Downside Target	14.50
Downside Target	15.20
Downside Target	17.25
Downside Target	18.25
Downside Target	19.51
Upside Target	20.69
Upside Target	21.49
Upside Target	22.85
Upside Target	23.80
Upside Target	25.89
Upside Target	27.30
Upside Target	32.26

Intraday share price targets for Mel (Mel)

Target Type	Value
Downside Intraday Target	18.74
Downside Intraday Target	17.67
Upside Intraday Target	20.38
Upside Intraday Target	20.95
Downside Intraday Target	19.31

Weekly technical analysis of Mel (Mel)

Date	Weekly Closing Price	Open	High	Low	Volume
27 Wed Sep 2023	19.80	19.89	19.89	18.25	1.247 times
22 Fri Sep 2023	19.89	22.64	22.85	19.51	0.54 times
15 Fri Sep 2023	22.09	24.00	25.89	20.69	0.571 times
08 Fri Sep 2023	24.88	22.61	27.30	21.49	1.115 times
01 Fri Sep 2023	23.80	30.90	32.26	23.80	0.295 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Mel (Mel)

Date	Monthly Closing Price	Open	High	Low	Volume
27 Wed Sep 2023	19.80	23.80	27.30	18.25	0.564 times
31 Thu Aug 2023	25.05	14.09	32.26	12.11	4.27 times
31 Mon Jul 2023	14.03	16.00	17.25	13.18	0.293 times
30 Fri Jun 2023	16.30	15.32	18.50	14.50	1.096 times

Scroll below to view daily charts

Price has moved down this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Mel (Mel)

Price action analysis of Mel ( (Mel) ) based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Mel ( (Mel) ) based on a short to mid term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Mel ( (Mel) ) based on a mid to longer term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

ADX buy sell signal for Mel stock for short term is SELL. Signal strength is Strong and stock is gaining momentum.

MACD generated a SELL signal for Mel in short term and the sell signal is strong.

Mel Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are weakening, and bulls are picking up momentum!

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be coming down

CCI has generated a buy signal for Mel in short term but BUY signal is weak.

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling might be slowing down

Stock of Mel is picking up selling momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 20.61 and Mel (Mel) stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

People seem to be coming out and selling the Mel (Mel) stock. Volume based technical analysis of Mel (Mel) stock is negative.

Mel Stock has given negative returns over a short term period. Returns for a longer term period have been positive

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.