Magnet Forensics Inc (MAGT.CA) Stock Technical Analysis
TSX:MAGT - Toronto Stock Exchange - CA55940P1018 - Common Stock - Currency: CAD
Taking everything into account, MAGT scores 7 out of 10 in our technical rating. Both in the recent history as in the last year, MAGT has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
MAGT is one of the better performing stocks in the Software industry, it outperforms 87% of 63 stocks in the same industry.
MAGT is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so MAGT is leading the market.
MAGT is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Looking at the yearly performance, MAGT did better than 95% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
In the last month MAGT has a been trading in a tight range between 43.42 and 44.49.
MAGT has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 44.21, a Stop Loss order could be placed below this zone.
More info and screens
28.75
45.44
We found 2 important support areas.
- A support zone ranging from 43.80 to 44.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @29.04 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 44.57 to 44.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 MAGT.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MAGT.CA is up. |
| ChartMill Relative Strength | 95.37 | POSITIVE | MAGT.CA has a high relative strength, it outperformed 95.37% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MAGT.CA is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MAGT.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MAGT.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.44 | NEUTRAL | The RSI value for MAGT.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests MAGT.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 96.99 | OVERBOUGHT | The high Stochastics value suggests MAGT.CA may be overbought. |
| Average True Range in percent/ATR (20) | 0.55 | LOW VOLATILITY | The low ATR as a percentage value for MAGT.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 16.04 | NEGATIVE | The low ADX value for MAGT.CA suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 44.27 | 44.04 | 0.23 (0.52%) | 25.00% |
| An entry @44.27. This is a Buy Stop order right above the 10 day high. | An exit @44.04. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.23 points, which is 0.52%. | For a 0.13% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
TSX:MAGT (4/11/2023, 7:00:00 PM)
44.24
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0%
1 Week0%
2 Weeks0.11%
1 Month-0.18%
3 Month7.09%
6 Month99.73%
12 Month66.44%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.13
ATR(20)%0.55%
ATR Inc-91.49%
Range Today0.01
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS95.37
Mansfield4.22
10 Day High44.26
10 Day Low44.05
20 Day High44.49
20 Day Low43.42
52 Week High45.2
52 Week Low14.89
CS1 End44.21
CR1 Start44.57
Volume & EV
DER(3)0.97%
DER(5)-0.11%
Volume22.71K
Volume Incr-45.8%
Vol(5)73.05K
Vol(50)109.48K