MAGNOLIA OIL & GAS CORP - A (MGY) Stock Technical Analysis
USA - NYSE:MGY - US5596631094 - Common Stock
25.26 USD
+0.46 (+1.85%)
25.26 USD
0 (0%)
Taking everything into account, MGY scores 7 out of 10 in our technical rating. MGY has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
In the last month MGY has a been trading in the 23.28 - 25.45 range, which is quite wide. It is currently trading near the high of this range.
MGY has an average volume of 2321450 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, MGY outperforms 58% of them, which is more or less in line with the market.
MGY is part of the Oil, Gas & Consumable Fuels industry. There are 210 other stocks in this industry, MGY did better than 61% of them.
MGY is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MGY is lagging the market.
MGY has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price.
More info and screens
20.46
25.98
We found 5 important support areas.
- Support @25.09 from a trend line in the daily time frame.
- A support zone ranging from 23.78 to 24.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 23.10 to 23.32. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @22.48 from a horizontal line in the daily time frame.
- Support @20.67 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @25.72 from a horizontal line in the daily 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 | NEUTRAL | NEUTRAL | The long term trend for MGY is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGY is up. |
| ChartMill Relative Strength | 58.75 | NEUTRAL | MGY is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MGY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MGY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MGY is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60.44 | NEUTRAL | The RSI value for MGY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests MGY has a positive trend. |
| Stochastics (14,3) | 80.94 | OVERBOUGHT | The high Stochastics value suggests MGY may be overbought. |
| Average True Range in percent/ATR (20) | 2.87 | MEDIUM VOLATILITY | The ATR as a percentage value for MGY suggests some volalility. |
| Average Directional Index/ADX (14) | 13.41 | NEGATIVE | The low ADX value for MGY 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)
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 |
|---|---|---|---|
| 25.73 | 25.08 | 0.65 (2.53%) | 25.00% |
| An entry @25.73. This is a Buy Stop order right above the resistance zone. | An exit @25.08. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.65 points, which is 2.53%. | For a 0.63% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MGY. 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.
25.26
+0.46 (+1.85%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg1.85%
1 Week5.16%
2 Weeks6.13%
1 Month1.73%
3 Month10.11%
6 Month0.28%
12 Month4.08%
2 Year10.26%
3 Year27.51%
5 Year388.59%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.69
ATR(20)%2.87%
ATR Inc-20.24%
Range Today0.81
ADR(20)0.69
ADR(20)%2.71%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS58.75
Mansfield-0.54
10 Day High25.45
10 Day Low23.34
20 Day High25.45
20 Day Low23.28
52 Week High29.02
52 Week Low19.09
CS1 End25.09
CR1 Start25.72
Volume & EV
DER(3)0.77%
DER(5)0.72%
Volume1.84M
Volume Incr-20.65%
Vol(5)1.92M
Vol(50)2.32M