MG Technical Analysis - MAGNA INTERNATIONAL INC

Technical Rating and Analysis

Taking everything into account, MG scores 6 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MG is only an average performer.

The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!

MG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MG is lagging the market slightly.

When comparing the performance of all stocks over the past year, MG turns out to be only a medium performer in the overall market: it outperformed 54% of all stocks.

MG is an average performer in the Automobile Components industry, it outperforms 50% of 5 stocks in the same industry.

In the last month MG has a been trading in the 60.67 - 69.47 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MAGNA INTERNATIONAL INC / MG Weekly stock chart

MAGNA INTERNATIONAL INC / MG Daily stock chart

Setup Rating and Analysis

MG has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

60.35

69.30

When analyzing the support we notice one important area.

A support zone ranging from 60.96 to 64.62. 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 68.02 to 68.61. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

Technical Indicator Signal Analysis

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 MG.CA is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for MG.CA is neutral.
ChartMill Relative Strength	54.58	NEUTRAL	MG.CA is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MG.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of MG.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MG.CA is above the rising SMA(200).
Relative Strength Index/RSI (14)	53.9	NEUTRAL	The RSI value for MG.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.28	NEGATIVE	The MACD value suggests MG.CA has a negative trend, although the MACD value is rising.
Stochastics (14,3)	31.82	NEUTRAL	The Stochastics value for MG.CA is a neutral value.
Average True Range in percent/ATR (20)	2.18	MEDIUM VOLATILITY	The ATR as a percentage value for MG.CA suggests some volalility.
Average Directional Index/ADX (14)	26.89	POSITIVE	The high ADX value value for MG.CA suggests a strong trend.