MAGNERA CORP (MAGN) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MAGN - US55939A1079 - Common Stock
Taking everything into account, MAGN scores 8 out of 10 in our technical rating. Although MAGN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, MAGN also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 14.94. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 14.54, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
13.58
When analyzing the support we can see 2 important areas.
- A support zone ranging from 14.32 to 14.54. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @13.72 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 14.94 to 14.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @15.28 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for MAGN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MAGN is up. |
| ChartMill Relative Strength | 58.77 | NEUTRAL | MAGN is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MAGN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MAGN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MAGN is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 64.94 | NEUTRAL | The RSI value for MAGN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests MAGN has a negative trend. |
| Stochastics (14,3) | 72.46 | NEUTRAL | The Stochastics value for MAGN is a neutral value. |
| Average True Range in percent/ATR (20) | 4.41 | MEDIUM VOLATILITY | The ATR as a percentage value for MAGN suggests some volalility. |
| Average Directional Index/ADX (14) | 46.52 | POSITIVE | The high ADX value value for MAGN suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 14.97 | 14.31 | 0.66 (4.41%) | 22.68% |
| An entry @14.97. This is a Buy Stop order right above the resistance zone. | An exit @14.31. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.66 points, which is 4.41%. | When investing 22.68% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of MAGN. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
14.55
-0.38 (-2.55%)
MAGNERA CORP / MAGN FAQ
What is the technical rating for MAGN stock?
ChartMill assigns a technical rating of 8 / 10 to MAGN.
What is the current trend direction of MAGNERA CORP (MAGN) stock?
The current trend direction for MAGNERA CORP (MAGN) is Bullish.
What is the RSI signal for MAGNERA CORP (MAGN) stock?
MAGNERA CORP (MAGN) has an RSI value of 64.9415. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MAGNERA CORP?
The MACD indicator for MAGNERA CORP (MAGN) has a value of -0.0980675, indicating a bearish trend.
What is the buy/sell signal for MAGNERA CORP (MAGN) stock?
The buy/sell signal for MAGNERA CORP (MAGN) is buy as both the short term and long term trends are positive.