MGIC INVESTMENT CORP (MTG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:MTG - US5528481030 - Common Stock
Taking everything into account, MTG scores 5 out of 10 in our technical rating. In the last year, MTG was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
Although the technical rating is only medium, MTG does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 27.86, a Stop Loss order could be placed below this zone.
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24.95
When analyzing the support we can see 4 important areas.
- A support zone ranging from 27.53 to 27.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @27.08 from a trend line in the daily time frame.
- A support zone ranging from 26.14 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 28.18 to 28.92. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The short term trend for MTG is neutral. |
| ChartMill Relative Strength | 60.03 | NEUTRAL | MTG is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MTG is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MTG is above a declining 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) | 49.4 | NEUTRAL | The RSI value for MTG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MTG has a negative trend. |
| Stochastics (14,3) | 49.87 | NEUTRAL | The Stochastics value for MTG is a neutral value. |
| Average True Range in percent/ATR (20) | 1.59 | LOW VOLATILITY | The low ATR as a percentage value for MTG suggests low volalility. |
| Average Directional Index/ADX (14) | 8.97 | NEGATIVE | The low ADX value for MTG suggests a weak or negative trend. |
27.99
+0.07 (+0.25%)
MGIC INVESTMENT CORP / MTG FAQ
What is the technical rating for MTG stock?
ChartMill assigns a technical rating of 5 / 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 49.3958. 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 neutral.