Technical analysis from Major Drilling (MDI.TO, TSE:MDI) on the Toronto Stock Exchange (TSX). Download the latest price data & trading signals

Major Drilling
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Detrended Price for MDI has signalled bearish price movements are likely
Detrended Price Oscillator /
Detrended Price for MDI has signalled bearish price movements are likely

[BEARISH]: Major Drilling currently has a confirmed downtrend. Price is currently below the displaced moving average for MDICurrently, the return on DPO20 is -1.1%.

MDI: The current assets are valued at $4.72
GROWTH /
MDI: The current assets are valued at $4.72

Major Drilling Key financial metrics: (1) Book Value: $4.72 (2) Market-to-Book ratio: 1.49 (3) PEG Ratio:

VALUE /
The current price earnings ratio for Major Drilling is

Major Drilling Key financial metrics: (1) EPS: $-0.49 (2) P/E Ratio:

Volume /
Strong volume performance from MDI has seen a higher volume of 331.8 [Uptrend]

[BULLISH]: Major Drilling current volume uptrend in the first timeframe. Volume for MDI is154614 (331.8).

Percentage Price /
The current price is still losing momentum through a fall for MDI on the short term EMA.

[BEARISH]: Major Drilling currently has negative PPO -1.200%. This means the current price is losing momentum through a fall on the short term exponential moving average.

Ex-Dividend /
Major Drilling : Ex-Dividend Date

The last ex-dividend date recorded for MDI occurred on the Oct 7 2015. This event was 744 days from the current trading day.

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Ease of Movement /
MDI was easily moved during the last trading day indicating a ST downtrend

MDI: EOM Current Signal -> (1) 20 Oct: BEARISH EASY (2) 19 Oct: BEARISH EASY (3) 18 Oct: BULLISH EASY

Percentage Volume /
Negative momentum on volume for MDI is maintained & supports a bearish move is likely

[BEARISH]: Major Drilling currently has negative PVO -20.6%. The recent volume is losing momentum through a fall on the short term exponential moving average. Currently, the return on PVO is -5.2%.

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Price continues to trade below the Sine Weighted Moving Average(5) for MDI
Sine Weighted Moving Average /
Price continues to trade below the Sine Weighted Moving Average(5) for MDI

[BEARISH]: Major Drilling currently has a confirmed downtrend. Recent trading has caused the SWMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on SWMA5 is -1.1%.

CMF highlights continued negative divergence for Major Drilling
Chaikin Money Flow /
CMF highlights continued negative divergence for Major Drilling

MDI: Chaikin Oscillator Current Signal -> (1) 20 Oct: BEARISH (2) 19 Oct: BEARISH (3) 18 Oct: BEARISH

MACD /
MDI: Moving Average Convergence Divergence [Bullish]

[BULLISH]: Major Drilling currently has positive MACD of 0.008000. This means the signal line is greater than the MACD line signalling a bullish movement. Currently, the return on MACD is -5.5%.

Aroon Oscillator /
Daily bar has confirmed has confirmed an Aroon uptrend is intact for MDI

[BULLISH]: Major Drilling has a current ARO(25) of 24. This has change 0 points from yesterday.

Medium Trend /
[Downtrend]: The second timeframe trend has continued for MDI

[BEARISH]: Major Drilling has a medium timeframe downtrend confirmation. This was confirmed through a price breakout on the Oct 18 2017.

Recent trading indicates a continuation in downward direction MDI [Downtrend]
Short Trend /
Recent trading indicates a continuation in downward direction MDI [Downtrend]

[BEARISH]: Major Drilling is in a downtrend in the short term timeframe. The current rally number is 2 & the highest rally count for the LTM is 3

OBV: Distribution still active for Major Drilling
On Balance Volume /
OBV: Distribution still active for Major Drilling

[BEARISH]: Major Drilling current price has highlighted recent distribution. Currently, the OBV is -1.08581e+006.

Close Tod Vs Close Yest /
The loss ratio for price fall in the first timeframe for the last 12 months is 0.5x giving a total win/loss ratio of 1x

MDI: Recent performance signals ->(1) 20 Oct: NEUTRAL (2) 19 Oct: NEUTRAL (3) 18 Oct: BULLISH

Elders Force Index /
Major Drilling : Direction, extent & volume have increased in recent trading [Buying Pressure]

[BULLISH]: Major Drilling current price has highlighted recent buying pressure. Currently, the Elders Force Index is 648.

Elder Ray Index /
Selling pressure for MDI highlights ability of sellers to drive the price downwards

MDI: Elder Ray Index Current Signal -> (1) 20 Oct: BEARISH (2) 19 Oct: BEARISH (3) 18 Oct: BULLISH

Major Drilling  has broken the first support point ($6.904) [Bearish]
Pivot Points /
Major Drilling has broken the first support point ($6.904) [Bearish]

Major Drilling has broken the first support point ($6.904) [Bearish]. Look for a short limit order entry near this point. Exit price for MDI should be set @$6.867 & short position stoploss for Major Drilling should be set between $7.087 & $7.124

Distribution still active for Major Drilling
Accumulation / Distribution /
Distribution still active for Major Drilling

MDI: ADLINE Current Signal -> (1) 20 Oct: BEARISH (2) 19 Oct: BEARISH (3) 18 Oct: BEARISH

The current number of shares outstanding for Major Drilling  is 80299000
TRADE /
The current number of shares outstanding for Major Drilling is 80299000

Major Drilling key financial metrics: (1) MCAP: $557.28M (2) Shares: 80299000 (3) Free Float: 79984000

MACD Volume /
Major Drilling : Volume MACD oscillator (-14516)

[BEARISH]: Major Drilling currently has negative Volume MACD of -14516. This means the signal line is less than the Volume MACD line signalling a bearish movement.

Williams %R /
William %R Oversold signal is still current for Major Drilling [Bullish]

[BEARISH]: Major Drilling is currently Overbought highlighting the potential for a short term trend reversal in the downward direction.

Black Candle /
MDI Basic Candle: Black

[BEARISH]: Major Drilling has formed a Black candlestick. Normal selling pressure highlighting sellers were in control.

High Price /
Recent trading for Major Drilling fell short of the previous high by -1.3 %

[BEARISH]: Major Drilling current downtrend in the first timeframe. Currently, the HIGH is -1.3 %.

[Bearish]: WMA(5) is serving as a resistance line for Major Drilling
Weighted Moving Average /
[Bearish]: WMA(5) is serving as a resistance line for Major Drilling

[BEARISH]: Major Drilling currently has a confirmed downtrend. Recent trading has caused the WMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is -1.1%.

MDI: Average True Range has confirmed an downtrend @0.216
Average True Range /
MDI: Average True Range has confirmed an downtrend @0.216

[Bearish]: Average True Range has confirmed an downtrend is present. Major Drilling has a TR of 0.11, and an ATR(14) of 0.216.

Ulcer Index /
[High Stress]: High drawdown associated with recent trading of MDI

[BULLISH]: Major Drilling UIX index implies that the downside risk of the current trading price is high. Currently, the UIX is 5.505.

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