Not a good buy right now: price is in a strong downtrend (bearish MA stack) and momentum is still deteriorating (MACD histogram negative and expanding).
Oversold RSI (6) near 18 can produce short bounces, but there is no proprietary buy signal today and no catalyst/news support—odds favor continued chop/down rather than a reliable rebound.
For an impatient investor who won’t wait for confirmation, the current setup is unfavorable; better to avoid/exit than try to catch a falling knife.
Momentum: MACD histogram -0.0204 (below zero) and negatively expanding → bearish momentum strengthening, not stabilizing.
Mean-reversion condition: RSI_6 = 18.4 (oversold) → bounce is possible, but oversold alone is not a buy trigger when momentum keeps weakening.
Levels: Pivot 1.195; resistance R1 1.328 / R2 1.411. Support S1 1.061 and S2 0.978. Current price (1.015) is below S1 and close to S2 → breakdown risk remains.
Pattern-based projection (provided): ~60% chance of +1.57% next day, ~flat next week (-0.02%), +4.64% next month—modest upside expectations that do not outweigh the current technical damage.
Positive Catalysts
Oversold RSI increases probability of a short-term technical bounce.
Pattern-based model suggests modest 1-month upside (+4.64%), if price can base near the 0.98–1.06 support zone.
Neutral/Negative Catalysts
suggests rallies are likely to be sold.
Financial Performance
Financial snapshot unavailable (data error), so latest quarter growth/profitability trends cannot be verified.
Without confirmed quarter/season results, the trade is primarily technical—and the technicals are currently bearish.
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
No analyst rating / price target updates provided in the dataset.
Practical takeaway: absence of visible Wall Street support or upgraded targets removes a common source of upside catalyst; the risk/reward remains skewed negative given the current downtrend.
Wall Street analysts forecast MEGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MEGL is 0 USD with a low forecast of 0 USD and a high forecast of 0 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
Analyst Rating
0
Wall Street analysts forecast MEGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MEGL is 0 USD with a low forecast of 0 USD and a high forecast of 0 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
