MAGNUM OPUS ACQUISITION LT-A (OPA) Technical Analysis
NYSE:OPA • KYG5S70A1049
Current stock price
OPA Technical Rating and Analysis
Taking everything into account, OPA scores 7 out of 10 in our technical rating. Although OPA is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- The long and short term trends are both positive. This is looking good!
- When comparing the performance of all stocks over the past year, OPA turns out to be only a medium performer in the overall market: it outperformed 56% of all stocks.
- OPA is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so OPA is lagging the market slightly.
- In the last month OPA has a been trading in a tight range between 10.73 and 11.23.
- Volume is considerably higher in the last couple of days.
OPA Weekly and Daily overview Charts
OPA Setup Rating and Analysis
OPA has an excellent technical rating and also presents a decent setup pattern. 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 resistance zone just above the current price starting at 10.80. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.78, a Stop Loss order could be placed below this zone.
More info and screens
OPA Support and Resistance Analysis
9.66
We found 2 important support areas.
- A support zone ranging from 10.45 to 10.78. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.76 to 9.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 10.80 to 10.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
OPA Technical Indicator Signal Analysis
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 OPA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OPA is up. |
| ChartMill Relative Strength | 56.74 | NEUTRAL | OPA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of OPA is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OPA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OPA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.83 | NEUTRAL | The RSI value for OPA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests OPA has a negative trend. |
| Stochastics (14,3) | 12.09 | OVERSOLD | The low Stochastics value suggests OPA may be oversold. |
| Average True Range in percent/ATR (20) | 0.49 | LOW VOLATILITY | The low ATR as a percentage value for OPA suggests low volalility. |
| Average Directional Index/ADX (14) | 60.3 | POSITIVE | The high ADX value value for OPA suggests a strong trend. |
OPA Chart- and CandleStick Pattern Analysis
OPA Example Setup
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 |
|---|---|---|---|
| 10.84 | 10.78 | 0.06 (0.55%) | 25.00% |
| An entry @10.84. This is a Buy Stop order right above the 10 day high. | An exit @10.78. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.06 points, which is 0.55%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.14%. |
- 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.
OPA Technicals: Chart, Performance Metrics, Trend & Indicators
NYSE:OPA (1/23/2024, 7:53:27 PM)
10.795
+0.01 (+0.05%)
MAGNUM OPUS ACQUISITION LT-A / OPA TA FAQ
Can you provide the ChartMill technical rating for MAGNUM OPUS ACQUISITION LT-A?
ChartMill assigns a technical rating of 7 / 10 to OPA.
What is the trend direction for OPA stock?
The current trend direction for MAGNUM OPUS ACQUISITION LT-A (OPA) is Bullish.
What is the RSI signal for MAGNUM OPUS ACQUISITION LT-A (OPA) stock?
MAGNUM OPUS ACQUISITION LT-A (OPA) has an RSI value of 51.8319. This indicates that the stock is currently neutral.
What is the short term momentum for MAGNUM OPUS ACQUISITION LT-A (OPA) stock?
The short term momentum for MAGNUM OPUS ACQUISITION LT-A (OPA) is positive.
What are the support and resistance levels for MAGNUM OPUS ACQUISITION LT-A (OPA) stock?
MAGNUM OPUS ACQUISITION LT-A (OPA) has a support level at 10.78 and a resistance level at 10.8. Check the full technical report for our detailed analysis of OPA support and resistance levels.