MGE ENERGY INC (MGEE) Stock Technical Analysis
USA - NASDAQ:MGEE - US55277P1049 - Common Stock
Taking everything into account, MGEE scores 4 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. MGEE was also a bad performer in the overall market in the last year.
MGEE has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 88.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 85.70, a Stop Loss order could be placed below this zone.
More info and screens
80.69
We found 1 important support area.
- A support zone ranging from 81.51 to 85.70. 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 88.38 to 88.85. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @91.47 from a horizontal 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 | NEUTRAL | NEUTRAL | The long term trend for MGEE is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGEE is up. |
| ChartMill Relative Strength | 29.48 | NEGATIVE | MGEE has a low relative strength, it was outperformed by 70.52% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGEE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGEE is above the rising 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) | 62.24 | NEUTRAL | The RSI value for MGEE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.37 | POSITIVE | The MACD value suggests MGEE has a positive trend. |
| Stochastics (14,3) | 80.12 | OVERBOUGHT | The high Stochastics value suggests MGEE may be overbought. |
| Average True Range in percent/ATR (20) | 1.69 | LOW VOLATILITY | The low ATR as a percentage value for MGEE suggests low volalility. |
| Average Directional Index/ADX (14) | 14.24 | NEGATIVE | The low ADX value for MGEE suggests a weak or negative trend. |
86.85
+0.37 (+0.43%)
MGE ENERGY INC / MGEE FAQ
Can you provide the ChartMill technical rating for MGE ENERGY INC?
ChartMill assigns a technical rating of 4 / 10 to MGEE.
What is the current trend direction of MGE ENERGY INC (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 62.2444. This indicates that the stock is currently neutral.
What is the short term momentum for MGE ENERGY INC (MGEE) stock?
The short term momentum for MGE ENERGY INC (MGEE) is positive.