MGIC INVESTMENT CORP (MTG) Stock Technical Analysis
NYSE:MTG • US5528481030
Overall MTG gets a technical rating of 2 out of 10. MTG has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- In the last month MTG has a been trading in the 25.41 - 27.81 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- MTG has an average volume of 2276240 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, MTG turns out to be only a medium performer in the overall market: it outperformed 44% of all stocks.
- MTG is part of the Financial Services industry. There are 98 other stocks in this industry, MTG did better than 67% of them.
- MTG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MTG is lagging the market.
MTG has a bad technical rating, but it does show 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. There is a support zone below the current price at 26.74, a Stop Loss order could be placed below this zone.
More info and screens
25.44
We found 1 important support area.
- A support zone ranging from 25.70 to 26.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- Resistance @26.83 from a trend line in the daily time frame.
- A resistance zone ranging from 27.33 to 27.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 29.79 to 29.86. 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 | DOWN | NEGATIVE | The long term trend for MTG is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MTG is down. |
| ChartMill Relative Strength | 44.2 | NEUTRAL | MTG is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of MTG is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of MTG is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.68 | NEUTRAL | The RSI value for MTG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests MTG has a positive trend. |
| Stochastics (14,3) | 36.98 | NEUTRAL | The Stochastics value for MTG is a neutral value. |
| Average True Range in percent/ATR (20) | 2.59 | MEDIUM VOLATILITY | The ATR as a percentage value for MTG suggests some volalility. |
| Average Directional Index/ADX (14) | 23.44 | NEUTRAL | The ADX value for MTG suggests a possible start of a new trend. |
26.81
+0.29 (+1.09%)
MGIC INVESTMENT CORP / MTG FAQ
Can you provide the ChartMill technical rating for MGIC INVESTMENT CORP?
ChartMill assigns a technical rating of 2 / 10 to MTG.
Can you provide the trend direction for MGIC INVESTMENT CORP?
The current trend direction for MGIC INVESTMENT CORP (MTG) is Bearish.
Can you provide the RSI signal for MGIC INVESTMENT CORP?
MGIC INVESTMENT CORP (MTG) has an RSI value of 49.683. This indicates that the stock is currently neutral.
What is the short term momentum for MTG stock?
The short term momentum for MGIC INVESTMENT CORP (MTG) is negative.
What is the support and resistance level for MTG stock?
MGIC INVESTMENT CORP (MTG) has a support level at 26.74 and a resistance level at 26.83. Check the full technical report for our detailed analysis of MTG support and resistance levels.