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(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)

Showing technical analysis as on 2023-09-15 View latest technical analysis

10 day averaged volume of Mel is 21576

Date	Daily Closing Price	Open	High	Low	Volume
15 Fri Sep 2023	22.09	21.50	22.94	21.40	0.264 times
14 Thu Sep 2023	21.96	21.37	22.69	20.69	0.609 times
13 Wed Sep 2023	21.77	21.35	22.40	21.34	0.543 times
12 Tue Sep 2023	22.46	22.46	23.50	22.46	0.315 times
11 Mon Sep 2023	23.64	24.00	25.89	23.64	1.199 times
08 Fri Sep 2023	24.88	27.30	27.30	24.86	1.345 times
07 Thu Sep 2023	26.16	26.16	26.16	24.50	1.065 times
06 Wed Sep 2023	24.92	24.90	24.92	22.65	1.074 times
05 Tue Sep 2023	23.74	21.49	23.74	21.49	1.102 times
04 Mon Sep 2023	22.61	22.61	22.61	22.61	0.544 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 22.4, but if it comes above 22.4, then a intra day buy could be more profitable.
If you take a sell trade below 22.4, then use 22.4 as stoploss and 19.2 as target. However if you take a buy trade in stock , then use 22.4 as stoploss and 24.99 as target.

Share price targets for Mel (Mel)

Target Type	Value
Downside Target	12.11
Downside Target	13.18
Downside Target	14.08
Downside Target	14.50
Downside Target	15.20
Downside Target	17.25
Downside Target	18.45
Downside Target	20.01
Downside Target	20.69
Downside Target	21.49
Upside Target	23.80
Upside Target	25.89
Upside Target	27.30
Upside Target	30.92
Upside Target	32.26

Intraday share price targets for Mel (Mel)

Target Type	Value
Downside Intraday Target	19.89
Downside Intraday Target	17.69
Upside Intraday Target	25.09
Upside Intraday Target	28.09
Upside Intraday Target	22.89

Weekly technical analysis of Mel (Mel)

Date	Weekly Closing Price	Open	High	Low	Volume
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
25 Fri Aug 2023	30.73	21.30	30.92	20.01	4.258 times
18 Fri Aug 2023	18.45	15.50	18.45	14.08	2.531 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
15 Fri Sep 2023	22.09	23.80	27.30	20.69	0.419 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 BUY. Signal strength is Weak and stock is gaining momentum.

MACD generated a SELL signal for Mel in short term but the sell signal is initial and weak.

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 green color and prices are in or below the green cloud Prices appear to be moving up

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 but buying is losing momentum.

MRSI is in positive zone. This is a BUY zone

Although the stock is in the BUY zone, but buying 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 23.94 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.