MAGNA INTERNATIONAL INC (MGA) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MGA - CA5592224011 - Common Stock
Taking everything into account, MGA scores 7 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, MGA is only an average performer.
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.
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43.09
When analyzing the support we can see 2 important areas.
- A support zone ranging from 46.50 to 47.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 43.53 to 43.53. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 49.20 to 50.38. 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 MGA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGA is up. |
| ChartMill Relative Strength | 69.12 | 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) | UP | POSITIVE | The current price of MGA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.84 | NEUTRAL | The RSI value for MGA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests MGA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 63.36 | NEUTRAL | The Stochastics value for MGA is a neutral value. |
| Average True Range in percent/ATR (20) | 2.79 | MEDIUM VOLATILITY | The ATR as a percentage value for MGA suggests some volalility. |
| Average Directional Index/ADX (14) | 19.22 | NEGATIVE | The low ADX value for MGA suggests a weak or negative trend. |
48.83
-0.36 (-0.73%)
MAGNA INTERNATIONAL INC / MGA FAQ
Can you provide the ChartMill technical rating for MAGNA INTERNATIONAL INC?
ChartMill assigns a technical rating of 7 / 10 to MGA.
Can you provide the trend direction for MAGNA INTERNATIONAL INC?
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 54.8403. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MAGNA INTERNATIONAL INC?
The MACD indicator for MAGNA INTERNATIONAL INC (MGA) has a value of -0.0900275, indicating a bearish trend.
Can you provide the support and resistance levels for MAGNA INTERNATIONAL INC?
MAGNA INTERNATIONAL INC (MGA) has a support level at 47.1 and a resistance level at 49.2. Check the full technical report for our detailed analysis of MGA support and resistance levels.