MAGIC SOFTWARE ENTERPRISES (MGIC) Stock Technical Analysis
NASDAQ:MGIC - IL0010823123 - Common Stock
20.01 USD
+0.37 (+1.88%)
Taking everything into account, MGIC scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MGIC is showing a nice and steady performance.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
When comparing the yearly performance of all stocks, we notice that MGIC is one of the better performing stocks in the market, outperforming 92% of all stocks. On top of that, MGIC also shows a nice and consistent pattern of rising prices.
MGIC is one of the better performing stocks in the Software industry, it outperforms 86% of 280 stocks in the same industry.
MGIC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MGIC is lagging the market slightly.
In the last month MGIC has a been trading in the 18.57 - 20.91 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
Besides having an excellent technical rating, MGIC also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 19.64, a Stop Loss order could be placed below this zone.
More info and screens
13.13
21.90
We found 4 important support areas.
- A support zone ranging from 19.43 to 19.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 18.80 to 18.80. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @13.72 from a trend line in the weekly time frame.
- Support @13.26 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 20.12 to 20.49. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 21.47 to 21.68. 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 MGIC is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MGIC is neutral. |
| ChartMill Relative Strength | 92.48 | POSITIVE | MGIC has a high relative strength, it outperformed 92.48% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGIC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MGIC is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGIC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.89 | NEUTRAL | The RSI value for MGIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests MGIC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 42.29 | NEUTRAL | The Stochastics value for MGIC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.48 | MEDIUM VOLATILITY | The ATR as a percentage value for MGIC suggests some volalility. |
| Average Directional Index/ADX (14) | 15.2 | NEGATIVE | The low ADX value for MGIC suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
NASDAQ:MGIC (9/8/2025, 12:18:31 PM)
20.01
+0.37 (+1.88%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg1.88%
1 Week-1.43%
2 Weeks-1.86%
1 Month0.25%
3 Month31.39%
6 Month44.16%
12 Month74%
2 Year77.24%
3 Year28.6%
5 Year52.4%
10 Year268.51%
15 Year700.4%
Volatility
ATR(14)0.63
ATR(20)%3.48%
ATR Inc134.12%
Range Today1.1
ADR(20)0.6
ADR(20)%2.98%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.48
Mansfield2.61
10 Day High20.91
10 Day Low18.72
20 Day High20.91
20 Day Low18.57
52 Week High22
52 Week Low10.42
CS1 End19.64
CR1 Start20.12
Volume & EV
DER(3)-7.89%
DER(5)-7.91%
Volume13.89K
Volume Incr10.93%
Vol(5)49.40K
Vol(50)60.36K