MAGELLAN HEALTH INC (MGLN) Stock Technical Analysis
NASDAQ:MGLN
Overall MGLN gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MGLN is only an average performer.
- The long and short term trends are both positive. This is looking good!
- MGLN 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 MGLN is lagging the market slightly.
- When comparing the performance of all stocks over the past year, MGLN turns out to be only a medium performer in the overall market: it outperformed 49% of all stocks.
- MGLN is an average performer in the Health Care Providers & Services industry, it outperforms 61% of 101 stocks in the same industry.
- In the last month MGLN has a been trading in a tight range between 92.63 and 95.36.
- Volume is considerably higher in the last couple of days.
MGLN has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 95.00. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 94.80, a Stop Loss order could be placed below this zone.
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92.26
When analyzing the support we notice one important area.
- A support zone ranging from 93.19 to 94.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 95.00 to 95.18. 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 MGLN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGLN is up. |
| ChartMill Relative Strength | 49.92 | NEUTRAL | MGLN is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGLN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGLN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGLN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.98 | NEUTRAL | The RSI value for MGLN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests MGLN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 94.11 | OVERBOUGHT | The high Stochastics value suggests MGLN may be overbought. |
| Average True Range in percent/ATR (20) | 0.42 | LOW VOLATILITY | The low ATR as a percentage value for MGLN suggests low volalility. |
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 |
|---|---|---|---|
| 95.19 | 94.35 | 0.84 (0.88%) | 25.00% |
| An entry @95.19. This is a Buy Stop order right above the resistance zone. | An exit @94.35. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.84 points, which is 0.88%. | For a 0.22% total portfolio risk, you can invest 25.00% 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.
94.99
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MAGELLAN HEALTH INC / MGLN FAQ
Can you provide the ChartMill technical rating for MAGELLAN HEALTH INC?
ChartMill assigns a technical rating of 7 / 10 to MGLN.
Can you provide the trend direction for MAGELLAN HEALTH INC?
The current trend direction for MAGELLAN HEALTH INC (MGLN) is Bullish.
What is the RSI signal for MAGELLAN HEALTH INC (MGLN) stock?
MAGELLAN HEALTH INC (MGLN) has an RSI value of 60.9781. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MAGELLAN HEALTH INC?
The MACD indicator for MAGELLAN HEALTH INC (MGLN) has a value of 0.0618376, indicating a bearish trend.
What is the buy/sell signal for MGLN stock?
The buy/sell signal for MAGELLAN HEALTH INC (MGLN) is buy as both the short term and long term trends are positive.