MAGIC SOFTWARE ENTERPRISES (MGIC) Stock Technical Analysis
USA - NASDAQ:MGIC - IL0010823123 - Common Stock
Overall MGIC gets a technical rating of 9 out of 10. Both in the recent history as in the last year, MGIC has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, MGIC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 21.47. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.52, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MGIC in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
14.04
We found 4 important support areas.
- A support zone ranging from 19.90 to 20.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 19.11 to 19.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @18.80 from a horizontal line in the daily time frame.
- Support @14.18 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- 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 | 89.46 | POSITIVE | MGIC has a high relative strength, it outperformed 89.46% 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 | POSITIVE | The current price of MGIC is above 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) | 53.72 | NEUTRAL | The RSI value for MGIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MGIC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 57.71 | NEUTRAL | The Stochastics value for MGIC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.11 | MEDIUM VOLATILITY | The ATR as a percentage value for MGIC suggests some volalility. |
| Average Directional Index/ADX (14) | 13.13 | NEGATIVE | The low ADX value for MGIC suggests a weak or negative 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 |
|---|---|---|---|
| 21.69 | 19.89 | 1.80 (8.30%) | 12.05% |
| An entry @21.69. This is a Buy Stop order right above the resistance zone. | An exit @19.89. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.80 points, which is 8.30%. | For a 1.00% total portfolio risk, you can invest 12.05% 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.
NASDAQ:MGIC (10/29/2025, 11:12:26 AM)
20.9
+0.27 (+1.31%)
MAGIC SOFTWARE ENTERPRISES / MGIC FAQ
Can you provide the ChartMill technical rating for MAGIC SOFTWARE ENTERPRISES?
ChartMill assigns a technical rating of 9 / 10 to MGIC.
What is the trend direction for MGIC stock?
The current trend direction for MAGIC SOFTWARE ENTERPRISES (MGIC) is Bullish.
What is the RSI signal for MGIC stock?
MAGIC SOFTWARE ENTERPRISES (MGIC) has an RSI value of 53.7225. This indicates that the stock is currently neutral.
What is the MACD signal for MGIC stock?
The MACD indicator for MAGIC SOFTWARE ENTERPRISES (MGIC) has a value of -0.00601225, indicating a bearish trend.
What is the support and resistance level for MGIC stock?
MAGIC SOFTWARE ENTERPRISES (MGIC) has a support level at 20.52 and a resistance level at 21.47. Check the full technical report for our detailed analysis of MGIC support and resistance levels.