MAGNOLIA OIL & GAS CORP - A (MGY) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:MGY • US5596631094
We assign a technical rating of 8 out of 10 to MGY. Although MGY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- MGY is part of the Oil, Gas & Consumable Fuels industry. There are 206 other stocks in this industry. MGY outperforms 70% of them.
- A new 52 week high is currently being made by MGY, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
- In the last month MGY has a been trading in the 21.95 - 27.47 range, which is quite wide. It is currently trading near the high of this range.
- MGY has an average volume of 2514090 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, MGY did better than 79% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- Volume is considerably higher in the last couple of days.
Although MGY has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
21.29
When analyzing the support we can see 3 important areas.
- A support zone ranging from 23.13 to 23.32. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @21.89 from a trend line in the weekly time frame.
- Support @21.50 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 27.00 to 27.00. 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 MGY is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MGY is up. |
| ChartMill Relative Strength | 79.5 | POSITIVE | MGY has a high relative strength, it outperformed 79.5% off all stocks 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) | UP | POSITIVE | The current price of MGY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 75.73 | OVERBOUGHT | The high RSI value suggests MGY may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.27 | POSITIVE | The MACD value suggests MGY has a positive trend. |
| Stochastics (14,3) | 92.91 | OVERBOUGHT | The high Stochastics value suggests MGY may be overbought. |
| Average True Range in percent/ATR (20) | 2.7 | MEDIUM VOLATILITY | The ATR as a percentage value for MGY suggests some volalility. |
| Average Directional Index/ADX (14) | 37.55 | POSITIVE | The high ADX value value for MGY suggests a strong trend. |
26.99
+0.78 (+2.98%)
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 8 / 10 to MGY.
What is the trend direction for MGY stock?
The current trend direction for MAGNOLIA OIL & GAS CORP - A (MGY) is Bullish.
What is the RSI signal for MAGNOLIA OIL & GAS CORP - A (MGY) stock?
MAGNOLIA OIL & GAS CORP - A (MGY) has an RSI value of 75.728. This indicates that the stock is currently overbought.
Can you provide the MACD signal for MAGNOLIA OIL & GAS CORP - A?
The MACD indicator for MAGNOLIA OIL & GAS CORP - A (MGY) has a value of 0.266555, indicating a bearish trend.
What is the short term momentum for MAGNOLIA OIL & GAS CORP - A (MGY) stock?
The short term momentum for MAGNOLIA OIL & GAS CORP - A (MGY) is positive.