MGIC INVESTMENT CORP (MTG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MTG - US5528481030 - Common Stock
Overall MTG gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MTG is showing a nice and steady performance.
Although MTG has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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24.95
When analyzing the support we can see 4 important areas.
- Support @28.92 from a horizontal line in the daily time frame.
- A support zone ranging from 27.22 to 28.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 26.22 to 26.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @25.20 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 29.02 to 29.09. 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 MTG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MTG is up. |
| ChartMill Relative Strength | 73.78 | POSITIVE | MTG has a high relative strength, it outperformed 73.78% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MTG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MTG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MTG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 62.96 | NEUTRAL | The RSI value for MTG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests MTG has a positive trend. |
| Stochastics (14,3) | 91.06 | OVERBOUGHT | The high Stochastics value suggests MTG may be overbought. |
| Average True Range in percent/ATR (20) | 1.65 | LOW VOLATILITY | The low ATR as a percentage value for MTG suggests low volalility. |
| Average Directional Index/ADX (14) | 12.26 | NEGATIVE | The low ADX value for MTG suggests a weak or negative 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 |
|---|---|---|---|
| 29.10 | 28.91 | 0.19 (0.65%) | 25.00% |
| An entry @29.10. This is a Buy Stop order right above the resistance zone. | An exit @28.91. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.19 points, which is 0.65%. | For a 0.16% 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 MTG. 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.
29.01
-0.08 (-0.28%)
MGIC INVESTMENT CORP / MTG FAQ
What is the technical rating for MTG stock?
ChartMill assigns a technical rating of 8 / 10 to MTG.
What is the trend direction for MTG stock?
The current trend direction for MGIC INVESTMENT CORP (MTG) is Bullish.
Can you provide the RSI signal for MGIC INVESTMENT CORP?
MGIC INVESTMENT CORP (MTG) has an RSI value of 62.9649. This indicates that the stock is currently neutral.
What is the short term momentum for MGIC INVESTMENT CORP (MTG) stock?
The short term momentum for MGIC INVESTMENT CORP (MTG) is positive.
What is the buy/sell signal for MGIC INVESTMENT CORP (MTG) stock?
The buy/sell signal for MGIC INVESTMENT CORP (MTG) is buy as both the short term and long term trends are positive.