MAGNITE INC (MGNI) Stock Technical Analysis
NASDAQ:MGNI - Nasdaq - US55955D1000 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to MGNI. In the last year, MGNI was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month MGNI has a been trading in the 20.72 - 24.88 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
Looking at the yearly performance, MGNI did better than 93% of all other stocks.
MGNI is one of the better performing stocks in the Media industry, it outperforms 92% of 98 stocks in the same industry.
MGNI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MGNI is lagging the market slightly.
MGNI has an average volume of 2834210 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, MGNI also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 21.74, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MGNI in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
21.52
24.92
When analyzing the support we notice one important area.
- A support zone ranging from 21.74 to 21.74. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 24.53 to 24.67. 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 | UP | POSITIVE | The long term trend for MGNI is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MGNI is neutral. |
| ChartMill Relative Strength | 93.53 | POSITIVE | MGNI has a high relative strength, it outperformed 93.53% 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) | UP | POSITIVE | The current price of MGNI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MGNI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 45.14 | NEUTRAL | The RSI value for MGNI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.35 | NEGATIVE | The MACD value suggests MGNI has a negative trend. |
| Stochastics (14,3) | 27.89 | NEUTRAL | The Stochastics value for MGNI is a neutral value. |
| Average True Range in percent/ATR (20) | 4.44 | MEDIUM VOLATILITY | The ATR as a percentage value for MGNI suggests some volalility. |
| Average Directional Index/ADX (14) | 25.14 | POSITIVE | The high ADX value value for MGNI 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 22.69 | 21.73 | 0.96 (4.24%) | 23.56% |
| An entry @22.69. This is a Buy Stop order right above the 10 day moving average. | An exit @21.73. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.96 points, which is 4.24%. | For a 1.00% total portfolio risk, you can invest 23.56% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MGNI. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
21.75
-0.73 (-3.25%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryMedia
Performance
% Chg-3.25%
1 Week-5.48%
2 Weeks-5.23%
1 Month-7.25%
3 Month44.04%
6 Month2.74%
12 Month75.4%
2 Year163.64%
3 Year188.85%
5 Year195.92%
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.02
ATR(20)%4.44%
ATR Inc62.48%
Range Today2.46
ADR(20)0.9
ADR(20)%4.16%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.53
Mansfield2.79
10 Day High24.03
10 Day Low20.72
20 Day High24.88
20 Day Low20.72
52 Week High25.27
52 Week Low8.22
CS1 End21.74
CR1 Start24.53
Volume & EV
DER(3)1.8%
DER(5)3.32%
Volume5.40M
Volume Incr1.94%
Vol(5)3.18M
Vol(50)2.83M