RONDHILL MGNI SVN CVR CL ETF (MAGY) Stock Technical Analysis
NYSEARCA:MAGY - US77926X6682 - ETF
Overall MAGY gets a technical rating of 4 out of 10. In the last year, MAGY was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
Although the technical rating is only medium, MAGY does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 56.94. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 56.66, a Stop Loss order could be placed below this zone.
More info and screens
53.50
2 important support areas can be observed.
- A support zone ranging from 56.32 to 56.66. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 54.04 to 55.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 56.94 to 58.10. This zone is formed by a combination of multiple trend lines and important moving averages 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 MAGY is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MAGY is neutral. |
| ChartMill Relative Strength | 0 | NEGATIVE | MAGY has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MAGY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MAGY is below the rising SMA(50). |
| Relative Strength Index/RSI (14) | 51.98 | NEUTRAL | The RSI value for MAGY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests MAGY has a positive trend. |
| Stochastics (14,3) | 81.56 | OVERBOUGHT | The high Stochastics value suggests MAGY may be overbought. |
| Average True Range in percent/ATR (20) | 1.12 | LOW VOLATILITY | The low ATR as a percentage value for MAGY suggests low volalility. |
| Average Directional Index/ADX (14) | 20.9 | NEUTRAL | The ADX value for MAGY suggests a possible start of a new trend. |
56.9
+0.06 (+0.11%)