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.
Although the technical rating is only medium, MGN does present a nice setup opportunity. 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. There is a resistance zone just above the current price starting at 24.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 24.19, a Stop Loss order could be placed below this zone.
More info and screens
23.12
2 important support areas can be observed.
- A support zone ranging from 23.79 to 24.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 23.35 to 23.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 24.45 to 25.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @30.02 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 | 33.56 | 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 | MIXED | The current price of MGN.OL is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.82 | NEUTRAL | The RSI value for MGN.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests MGN.OL has a negative trend. |
| Stochastics (14,3) | 70.97 | NEUTRAL | The Stochastics value for MGN.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.41 | MEDIUM VOLATILITY | The ATR as a percentage value for MGN.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 18.36 | NEGATIVE | The low ADX value for MGN.OL suggests a weak or negative trend. |
OSL:MGN (7/11/2025, 7:00:00 PM)
24.2
-0.1 (-0.41%)