MAGNA INTERNATIONAL INC (MGA) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MGA - CA5592224011 - Common Stock
We assign a technical rating of 10 out of 10 to MGA. 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.
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
46.14
When analyzing the support we can see 3 important areas.
- A support zone ranging from 52.55 to 54.10. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 48.25 to 48.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @46.61 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 55.14 to 55.14. 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 | 86.45 | POSITIVE | MGA has a high relative strength, it outperformed 86.45% 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) | 68.4 | NEUTRAL | The RSI value for MGA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests MGA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 67.97 | NEUTRAL | The Stochastics value for MGA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.67 | LOW VOLATILITY | The low ATR as a percentage value for MGA suggests low volalility. |
| Average Directional Index/ADX (14) | 29.99 | 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 |
|---|---|---|---|
| 55.15 | 53.19 | 1.96 (3.55%) | 25.00% |
| An entry @55.15. This is a Buy Stop order right above the resistance zone. | An exit @53.19. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.96 points, which is 3.55%. | For a 0.89% total portfolio risk, you can invest 25.00% 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.
54.66
+1.36 (+2.55%)
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 68.3978. 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.