MAGNITE INC (MGNI) Technical Analysis
NASDAQ:MGNI • US55955D1000
Current stock price
MGNI Technical Rating and Analysis
We assign a technical rating of 4 out of 10 to MGNI. Recently some decent action could be observed, but in the medium term time frame this is still negative. MGNI was also a bad performer in the overall market in the last year.
- When comparing the yearly performance of all stocks, MGNI is a bad performer in the overall market: 74% 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 11.36 - 14.11 range, which is quite wide. It is currently trading near the high of this range.
- MGNI has an average volume of 2150910 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
- MGNI is part of the Media industry. There are 90 other stocks in this industry, MGNI did better than 57% of them.
MGNI Weekly and Daily overview Charts
MGNI Setup Rating and Analysis
MGNI has an average technical rating and the quality of the presented setup is also not ideal 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
MGNI Support and Resistance Analysis
11.21
2 important support areas can be observed.
- A support zone ranging from 11.56 to 11.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @11.32 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- Resistance @13.72 from a horizontal line in the weekly time frame.
- Resistance @14.01 from a horizontal line in the daily time frame.
MGNI Technical Indicator Signal Analysis
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 | UP | POSITIVE | The short term trend for MGNI is up. |
| ChartMill Relative Strength | 26.82 | NEGATIVE | MGNI has a low relative strength, it was outperformed by 73.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGNI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGNI is above the rising 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) | 58.09 | NEUTRAL | The RSI value for MGNI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.19 | POSITIVE | The MACD value suggests MGNI has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 77.07 | NEUTRAL | The Stochastics value for MGNI is a neutral value. |
| Average True Range in percent/ATR (20) | 4.24 | MEDIUM VOLATILITY | The ATR as a percentage value for MGNI suggests some volalility. |
| Average Directional Index/ADX (14) | 18.02 | NEGATIVE | The low ADX value for MGNI suggests a weak or negative trend. |
MGNI Chart- and CandleStick Pattern Analysis
MGNI Technicals: Chart, Performance Metrics, Trend & Indicators
13.39
+0.31 (+2.37%)
MAGNITE INC / MGNI TA FAQ
What is the ChartMill technical rating of MAGNITE INC (MGNI) stock?
ChartMill assigns a technical rating of 4 / 10 to MGNI.
Can you provide the trend direction for MAGNITE INC?
The current trend direction for MAGNITE INC (MGNI) is Bearish.
Can you provide the RSI signal for MAGNITE INC?
MAGNITE INC (MGNI) has an RSI value of 58.09. This indicates that the stock is currently neutral.
What is the MACD signal for MGNI stock?
The MACD indicator for MAGNITE INC (MGNI) has a value of 0.186699, indicating a bearish trend.
Can you provide the short term momentum for MAGNITE INC?
The short term momentum for MAGNITE INC (MGNI) is positive.