Taking everything into account, MGEE scores 0 out of 10 in our technical rating. MGEE scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When comparing the yearly performance of all stocks, MGEE is a bad performer in the overall market: 80% of all stocks are doing better.
- MGEE is part of the Electric Utilities industry. There are 46 other stocks in this industry, of which 88% are performing better than MGEE.
- MGEE is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month MGEE has a been trading in the 76.47 - 81.62 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
Although the technical rating is bad, MGEE does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 79.42, a Stop Loss order could be placed below this zone.
More info and screens
76.73
When analyzing the support we notice one important area.
- A support zone ranging from 77.50 to 79.42. 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 2 important areas.
- A resistance zone ranging from 82.44 to 83.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 85.54 to 88.38. 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 | DOWN | NEGATIVE | The long term trend for MGEE is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MGEE is neutral. |
| ChartMill Relative Strength | 20.06 | NEGATIVE | MGEE has a low relative strength, it was outperformed by 79.94% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MGEE is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGEE is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGEE is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.93 | NEUTRAL | The RSI value for MGEE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.29 | POSITIVE | The MACD value suggests MGEE has a positive trend. |
| Stochastics (14,3) | 81.13 | OVERBOUGHT | The high Stochastics value suggests MGEE may be overbought. |
| Average True Range in percent/ATR (20) | 1.56 | LOW VOLATILITY | The low ATR as a percentage value for MGEE suggests low volalility. |
| Average Directional Index/ADX (14) | 16.86 | NEGATIVE | The low ADX value for MGEE suggests a weak or negative trend. |
79.58
-0.37 (-0.46%)
MGE ENERGY INC / MGEE FAQ
Can you provide the ChartMill technical rating for MGE ENERGY INC?
ChartMill assigns a technical rating of 0 / 10 to MGEE.
What is the trend direction for MGEE stock?
The current trend direction for MGE ENERGY INC (MGEE) is Bearish.
Can you provide the RSI signal for MGE ENERGY INC?
MGE ENERGY INC (MGEE) has an RSI value of 51.9328. This indicates that the stock is currently neutral.
Can you provide the short term momentum for MGE ENERGY INC?
The short term momentum for MGE ENERGY INC (MGEE) is neutral.
What are the support and resistance levels for MGE ENERGY INC (MGEE) stock?
MGE ENERGY INC (MGEE) has a support level at 79.42 and a resistance level at 82.44. Check the full technical report for our detailed analysis of MGEE support and resistance levels.