MGE ENERGY INC (MGEE) Stock Technical Analysis
NASDAQ:MGEE • US55277P1049
We assign a technical rating of 4 out of 10 to MGEE. 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.
- When comparing the yearly performance of all stocks, MGEE is a bad performer in the overall market: 73% of all stocks are doing better.
- MGEE is one of the lesser performing stocks in the Electric Utilities industry. 84% of 46 stocks in the same industry do better.
- 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.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- In the last month MGEE has a been trading in the 78.09 - 83.15 range, which is quite wide. It is currently trading near the high of this range.
MGEE has an average technical rating and the quality of the presented setup is also 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
76.73
2 important support areas can be observed.
- A support zone ranging from 82.41 to 82.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 77.50 to 80.56. 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 3 important areas.
- A resistance zone ranging from 82.89 to 83.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Strong resistance @85.54 from a horizontal line in the daily time frame.
- Resistance @87.74 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 | 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 | 27.65 | NEGATIVE | MGEE has a low relative strength, it was outperformed by 72.35% 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) | 64.64 | NEUTRAL | The RSI value for MGEE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests MGEE has a positive trend. |
| Stochastics (14,3) | 76.36 | NEUTRAL | The Stochastics value for MGEE is a neutral value. |
| Average True Range in percent/ATR (20) | 2.02 | MEDIUM VOLATILITY | The ATR as a percentage value for MGEE suggests some volalility. |
| Average Directional Index/ADX (14) | 16.67 | NEGATIVE | The low ADX value for MGEE suggests a weak or negative trend. |
82.88
+1.73 (+2.13%)
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 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 64.64. 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 positive.
What are the support and resistance levels for MGE ENERGY INC (MGEE) stock?
MGE ENERGY INC (MGEE) has a support level at 82.85 and a resistance level at 82.89. Check the full technical report for our detailed analysis of MGEE support and resistance levels.