MAGNOLIA OIL & GAS CORP - A (MGY) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MGY - US5596631094 - Common Stock
Overall MGY gets a technical rating of 0 out of 10. MGY scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
MGY has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 22.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.85, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MGY in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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20.18
We found 2 important support areas.
- A support zone ranging from 21.50 to 21.85. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @20.38 from a horizontal line in the weekly time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 22.49 to 23.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 24.08 to 24.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @24.60 from a horizontal line in the daily time frame.
- Resistance @25.19 from a horizontal 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 | DOWN | NEGATIVE | The long term trend for MGY is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MGY is down. |
| ChartMill Relative Strength | 26.19 | NEGATIVE | MGY has a low relative strength, it was outperformed by 73.81% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MGY is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MGY is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MGY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 43.73 | NEUTRAL | The RSI value for MGY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests MGY has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 15.85 | OVERSOLD | The low Stochastics value suggests MGY may be oversold. |
| Average True Range in percent/ATR (20) | 2.41 | MEDIUM VOLATILITY | The ATR as a percentage value for MGY suggests some volalility. |
| Average Directional Index/ADX (14) | 16.57 | NEGATIVE | The low ADX value for MGY suggests a weak or negative trend. |
21.95
+0.24 (+1.11%)
MAGNOLIA OIL & GAS CORP - A / MGY FAQ
Can you provide the ChartMill technical rating for MAGNOLIA OIL & GAS CORP - A?
ChartMill assigns a technical rating of 0 / 10 to MGY.
What is the current trend direction of MAGNOLIA OIL & GAS CORP - A (MGY) stock?
The current trend direction for MAGNOLIA OIL & GAS CORP - A (MGY) is Bearish.
What is the RSI signal for MAGNOLIA OIL & GAS CORP - A (MGY) stock?
MAGNOLIA OIL & GAS CORP - A (MGY) has an RSI value of 43.7271. This indicates that the stock is currently neutral.
What is the MACD signal for MGY stock?
The MACD indicator for MAGNOLIA OIL & GAS CORP - A (MGY) has a value of -0.0648761, indicating a bearish trend.
Can you provide the support and resistance levels for MAGNOLIA OIL & GAS CORP - A?
MAGNOLIA OIL & GAS CORP - A (MGY) has a support level at 21.85 and a resistance level at 22.49. Check the full technical report for our detailed analysis of MGY support and resistance levels.