MAGELLAN HEALTH INC (MGLN) Technical Analysis
NASDAQ:MGLN
Current stock price
MGLN Technical Rating and Analysis
Taking everything into account, MGLN scores 7 out of 10 in our technical rating. Although MGLN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- 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 part of the Health Care Providers & Services industry. There are 100 other stocks in this industry, MGLN did better than 63% of them.
- 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 Weekly and Daily overview Charts
MGLN Setup Rating and Analysis
Besides having an excellent technical rating, MGLN 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 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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MGLN Support and Resistance Analysis
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.
MGLN Technical Indicator Signal Analysis
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. |
MGLN Chart- and CandleStick Pattern Analysis
MGLN Example Setup
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%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.22%. |
- 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.
MGLN Technicals: Chart, Performance Metrics, Trend & Indicators
94.99
0 (0%)
MAGELLAN HEALTH INC / MGLN TA 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 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 short term momentum for MAGELLAN HEALTH INC?
The short term momentum for MAGELLAN HEALTH INC (MGLN) is positive.
Can you provide the support and resistance levels for MAGELLAN HEALTH INC?
MAGELLAN HEALTH INC (MGLN) has a support level at 94.8 and a resistance level at 95. Check the full technical report for our detailed analysis of MGLN support and resistance levels.