MAGNA INTERNATIONAL INC (MGA) Stock Technical Analysis
NYSE:MGA • CA5592224011
Overall MGA gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MGA is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that MGA is one of the better performing stocks in the market, outperforming 92% of all stocks. We also observe that the gains produced by MGA over the past year are nicely spread over this period.
- MGA is one of the better performing stocks in the Automobile Components industry, it outperforms 85% of 41 stocks in the same industry.
- MGA 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 MGA is lagging the market slightly.
- In the last month MGA has a been trading in the 50.78 - 69.94 range, which is quite wide. It is currently trading near the high of this range.
- MGA has an average volume of 1908730 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although MGA has an excellent technical rating, the quality of the presented setup is 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.
More info and screens
50.78
3 important support areas can be observed.
- A support zone ranging from 63.47 to 64.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 52.26 to 53.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @51.29 from a trend 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 MGA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGA is up. |
| ChartMill Relative Strength | 92.44 | POSITIVE | MGA has a high relative strength, it outperformed 92.44% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 67.52 | NEUTRAL | The RSI value for MGA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.82 | POSITIVE | The MACD value suggests MGA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 71.45 | NEUTRAL | The Stochastics value for MGA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.24 | MEDIUM VOLATILITY | The ATR as a percentage value for MGA suggests some volalility. |
| Average Directional Index/ADX (14) | 40.55 | POSITIVE | The high ADX value value for MGA 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 |
|---|---|---|---|
| 69.95 | 63.46 | 6.49 (9.28%) | 10.78% |
| An entry @69.95. This is a Buy Stop order right above the 10 day high. | An exit @63.46. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 6.49 points, which is 9.28%. | For a 1.00% total portfolio risk, you can invest 10.78% 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.
64.98
+1.08 (+1.69%)
MAGNA INTERNATIONAL INC / MGA FAQ
Can you provide the ChartMill technical rating for MAGNA INTERNATIONAL INC?
ChartMill assigns a technical rating of 10 / 10 to MGA.
What is the trend direction for MGA stock?
The current trend direction for MAGNA INTERNATIONAL INC (MGA) is Bullish.
What is the RSI signal for MAGNA INTERNATIONAL INC (MGA) stock?
MAGNA INTERNATIONAL INC (MGA) has an RSI value of 67.522. This indicates that the stock is currently neutral.
What is the short term momentum for MGA stock?
The short term momentum for MAGNA INTERNATIONAL INC (MGA) is positive.
Can you provide the buy/sell signal for MAGNA INTERNATIONAL INC?
The buy/sell signal for MAGNA INTERNATIONAL INC (MGA) is buy as both the short term and long term trends are positive.