MAGNITE INC (MGNI) Stock Technical Analysis
NASDAQ:MGNI • US55955D1000
Taking everything into account, MGNI scores 0 out of 10 in our technical rating. MGNI's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, MGNI is a bad performer in the overall market: 88% of all stocks are doing better.
- MGNI is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month MGNI has a been trading in the 10.82 - 15.95 range, which is quite wide. It is currently trading near the lows of this range.
- MGNI has an average volume of 2343180 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- MGNI is part of the Media industry. There are 92 other stocks in this industry, MGNI did better than 46% of them.
The technical rating of MGNI is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
9.54
We found 2 important support areas.
- A support zone ranging from 11.19 to 11.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @9.64 from a trend line in the weekly time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 11.71 to 11.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @13.58 from a trend line in the daily time frame.
- A resistance zone ranging from 14.82 to 15.07. This zone is formed by a combination of multiple trend lines and important moving averages 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 | DOWN | NEGATIVE | The long term trend for MGNI is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MGNI is down. |
| ChartMill Relative Strength | 12.16 | NEGATIVE | MGNI has a low relative strength, it was outperformed by 87.84% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGNI is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGNI is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGNI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 34.16 | NEUTRAL | The RSI value for MGNI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.16 | NEGATIVE | The MACD value suggests MGNI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 14.31 | OVERSOLD | The low Stochastics value suggests MGNI may be oversold. |
| Average True Range in percent/ATR (20) | 7.33 | HIGH VOLATILITY | The high ATR as a percentage value for MGNI suggests high volalility. |
| Average Directional Index/ADX (14) | 34.3 | POSITIVE | The high ADX value value for MGNI suggests a strong trend. |
11.7
+0.5 (+4.46%)
MAGNITE INC / MGNI FAQ
What is the ChartMill technical rating of MAGNITE INC (MGNI) stock?
ChartMill assigns a technical rating of 0 / 10 to MGNI.
What is the trend direction for MGNI stock?
The current trend direction for MAGNITE INC (MGNI) is Bearish.
What is the RSI signal for MGNI stock?
MAGNITE INC (MGNI) has an RSI value of 34.1589. This indicates that the stock is currently neutral.
What is the short term momentum for MAGNITE INC (MGNI) stock?
The short term momentum for MAGNITE INC (MGNI) is negative.
What is the buy/sell signal for MAGNITE INC (MGNI) stock?
The buy/sell signal for MAGNITE INC (MGNI) is sell as both the short term and long term trends are negative.