MAGNA INTERNATIONAL INC (MGA) Stock Technical Analysis
NYSE:MGA - New York Stock Exchange, Inc. - CA5592224011 - Common Stock - Currency: USD
Overall MGA gets a technical rating of 4 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. MGA was also a bad performer in the overall market in the last year.
When comparing the yearly performance of all stocks, MGA is a bad performer in the overall market: 63% of all stocks are doing better.
MGA is part of the Automobile Components industry. There are 81 other stocks in this industry, of which 67% are performing better than MGA.
MGA has an average volume of 2019960 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
MGA is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MGA is lagging the market slightly.
In the last month MGA has a been trading in the 34.94 - 38.96 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is only medium, MGA does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. 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
35.02
44.89
2 important support areas can be observed.
- A support zone ranging from 36.94 to 37.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 35.37 to 35.44. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 37.40 to 38.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @39.67 from a horizontal line in the daily time frame.
- Resistance @44.45 from a horizontal line in the weekly 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 | DOWN | NEGATIVE | The long term trend for MGA is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGA is up. |
| ChartMill Relative Strength | 37.94 | NEUTRAL | MGA is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of MGA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.28 | NEUTRAL | The RSI value for MGA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests MGA has a negative trend. |
| Stochastics (14,3) | 57 | NEUTRAL | The Stochastics value for MGA is a neutral value. |
| Average True Range in percent/ATR (20) | 2.26 | MEDIUM VOLATILITY | The ATR as a percentage value for MGA suggests some volalility. |
| Average Directional Index/ADX (14) | 17.79 | NEGATIVE | The low ADX value for MGA 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)
37.39
+0.19 (+0.51%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryAutomobile Components
Performance
% Chg0.51%
1 Week0.19%
2 Weeks2.1%
1 Month4.82%
3 Month9.97%
6 Month-11.31%
12 Month-10.76%
2 Year-33.75%
3 Year-31.89%
5 Year-16.03%
10 Year-33.34%
15 Year126.74%
Volatility
ATR(14)0.88
ATR(20)%2.26%
ATR Inc-7.43%
Range Today0.78
ADR(20)0.75
ADR(20)%2%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS37.94
Mansfield-0.95
10 Day High38.96
10 Day Low36.74
20 Day High38.96
20 Day Low34.94
52 Week High47.22
52 Week Low30.39
CS1 End37.13
CR1 Start37.4
Volume & EV
DER(3)-1.1%
DER(5)-0.08%
Volume780.30K
Volume Incr-31.64%
Vol(5)1.25M
Vol(50)2.02M