MAGNOLIA OIL & GAS CORP - A (MGY) Stock Technical Analysis
NYSE:MGY • US5596631094
We assign a technical rating of 8 out of 10 to MGY. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MGY is only an average performer.
- The long and short term trends are both positive. This is looking good!
- MGY is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- MGY is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- MGY has an average volume of 2892150 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that MGY is one of the better performing stocks in the market, outperforming 71% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
- MGY is part of the Oil, Gas & Consumable Fuels industry. There are 206 other stocks in this industry, MGY did better than 55% of them.
MGY has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 27.12. Right above this resistance zone may be a good entry point.
More info and screens
21.29
We found 4 important support areas.
- A support zone ranging from 25.98 to 25.98. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @23.32 from a horizontal line in the daily time frame.
- Support @21.95 from a trend line in the weekly time frame.
- Support @21.50 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 27.12 to 27.27. 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 | 71.48 | POSITIVE | MGY has a high relative strength, it outperformed 71.48% 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) | 63.78 | NEUTRAL | The RSI value for MGY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests MGY has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 79.44 | NEUTRAL | The Stochastics value for MGY is a neutral value. |
| Average True Range in percent/ATR (20) | 3.2 | MEDIUM VOLATILITY | The ATR as a percentage value for MGY suggests some volalility. |
| Average Directional Index/ADX (14) | 35.06 | POSITIVE | The high ADX value value for MGY suggests a strong trend. |
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 |
|---|---|---|---|
| 27.28 | 25.97 | 1.31 (4.80%) | 20.82% |
| An entry @27.28. This is a Buy Stop order right above the resistance zone. | An exit @25.97. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.31 points, which is 4.80%. | When investing 20.82% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
27.11
+0.03 (+0.11%)
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 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 63.7765. This indicates that the stock is currently neutral.
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 -0.0291812, 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.