MAGNORA ASA (MGN.OL) Stock Technical Analysis
OSL:MGN - Euronext Oslo - NO0010187032 - Common Stock - Currency: NOK
Overall MGN gets a technical rating of 3 out of 10. In the last year, MGN was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.
When comparing the yearly performance of all stocks, MGN is a bad performer in the overall market: 82% of all stocks are doing better.
In the last month MGN has a been trading in the 22.85 - 24.60 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
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 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.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, MGN does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 23.87. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.35, a Stop Loss order could be placed below this zone.
More info and screens
22.62
25.05
We found 2 important support areas.
- A support zone ranging from 23.25 to 23.35. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @22.85 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 23.87 to 24.18. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 24.73 to 24.80. 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 | 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 | 18.65 | NEGATIVE | MGN.OL has a low relative strength, it was outperformed by 81.35% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGN.OL is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MGN.OL is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of MGN.OL is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.1 | NEUTRAL | The RSI value for MGN.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests MGN.OL has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 50.54 | NEUTRAL | The Stochastics value for MGN.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.26 | MEDIUM VOLATILITY | The ATR as a percentage value for MGN.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 10.93 | NEGATIVE | The low ADX value for MGN.OL suggests a weak or negative 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 (8/5/2025, 7:00:00 PM)
23.85
+0.1 (+0.42%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg0.42%
1 Week1.06%
2 Weeks1.27%
1 Month-2.25%
3 Month1.49%
6 Month-8.25%
12 Month-20.2%
2 Year-34.25%
3 Year-2.25%
5 Year41.42%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.59
ATR(20)%2.26%
ATR Inc12.9%
Range Today0.4
ADR(20)0.52
ADR(20)%2.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS18.65
Mansfield-0.75
10 Day High24.35
10 Day Low23.25
20 Day High24.6
20 Day Low22.85
52 Week High30.95
52 Week Low18.7
CS1 End23.35
CR1 Start23.87
Volume & EV
DER(3)1.55%
DER(5)2.9%
Volume42.27K
Volume Incr-35.15%
Vol(5)44.11K
Vol(50)102.68K