MAGNORA ASA (MGN.OL) Stock Technical Analysis
OSL:MGN • NO0010187032
Overall MGN gets a technical rating of 5 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. MGN was also a bad performer in the overall market in the last year.
- When comparing the yearly performance of all stocks, MGN is a bad performer in the overall market: 68% of all stocks are doing better.
- The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- MGN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
- MGN is an average performer in the Independent Power and Renewable Electricity Producers industry, it outperforms 63% of 20 stocks in the same industry.
- MGN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MGN is lagging the market.
Although the technical rating is only medium, MGN does present a nice setup opportunity. 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 21.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.93, a Stop Loss order could be placed below this zone.
More info and screens
18.75
2 important support areas can be observed.
- A support zone ranging from 20.24 to 20.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 18.94 to 19.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 21.45 to 21.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @22.20 from a horizontal line in the daily 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 MGN.OL is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGN.OL is up. |
| ChartMill Relative Strength | 32.45 | NEUTRAL | MGN.OL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGN.OL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGN.OL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGN.OL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.53 | NEUTRAL | The RSI value for MGN.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests MGN.OL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 75.34 | NEUTRAL | The Stochastics value for MGN.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.97 | MEDIUM VOLATILITY | The ATR as a percentage value for MGN.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 27.67 | POSITIVE | The high ADX value value for MGN.OL suggests a strong trend. |
OSL:MGN (2/16/2026, 4:19:10 PM)
21.25
-0.1 (-0.47%)
MAGNORA ASA / MGN.OL FAQ
What is the ChartMill technical rating of MAGNORA ASA (MGN.OL) stock?
ChartMill assigns a technical rating of 5 / 10 to MGN.OL.
What is the current trend direction of MAGNORA ASA (MGN.OL) stock?
The current trend direction for MAGNORA ASA (MGN.OL) is Bearish.
What is the RSI signal for MAGNORA ASA (MGN.OL) stock?
MAGNORA ASA (MGN.OL) has an RSI value of 57.5322. This indicates that the stock is currently neutral.
What is the MACD signal for MGN stock?
The MACD indicator for MAGNORA ASA (MGN.OL) has a value of 0.0620535, indicating a bearish trend.
Can you provide the short term momentum for MAGNORA ASA?
The short term momentum for MAGNORA ASA (MGN.OL) is positive.