MAGNORA ASA (MGN.OL) Stock Technical Analysis
OSL:MGN - Euronext Oslo - NO0010187032 - Common Stock - Currency: NOK
We assign a technical rating of 4 out of 10 to MGN. 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: 81% of all stocks are doing better.
MGN is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MGN is lagging the market.
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.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
MGN is part of the Independent Power and Renewable Electricity Producers industry. There are 19 other stocks in this industry, MGN did better than 44% of them.
MGN has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
22.66
30.93
When analyzing the support we notice one important area.
- Support @22.89 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 23.52 to 24.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @30.62 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The short term trend for MGN.OL is neutral. |
| ChartMill Relative Strength | 19.26 | NEGATIVE | MGN.OL has a low relative strength, it was outperformed by 80.74% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MGN.OL is below 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) | 50.55 | NEUTRAL | The RSI value for MGN.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MGN.OL has a negative trend. |
| Stochastics (14,3) | 40.92 | NEUTRAL | The Stochastics value for MGN.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 3.57 | MEDIUM VOLATILITY | The ATR as a percentage value for MGN.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 27.65 | POSITIVE | The high ADX value value for MGN.OL suggests a strong 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)
OSL:MGN (5/22/2025, 4:19:51 PM)
22.9
-0.2 (-0.87%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg-0.87%
1 Week-2.35%
2 Weeks-2.14%
1 Month5.05%
3 Month-5.37%
6 Month-8.03%
12 Month-26.01%
2 Year-17.63%
3 Year0.22%
5 Year189.87%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.74
ATR(20)%3.57%
ATR Inc-29.33%
Range Today0.35
ADR(20)0.78
ADR(20)%3.42%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS19.26
Mansfield-1.26
10 Day High24.55
10 Day Low22.7
20 Day High24.55
20 Day Low21.5
52 Week High35.75
52 Week Low18.7
CS1 End22.89
CR1 Start23.52
Volume & EV
DER(3)-1.74%
DER(5)-0.56%
Volume19.49K
Volume Incr-26.7%
Vol(5)131.77K
Vol(50)154.28K