Learn to Evaluate (MGY) using the Charts
November 13, 2024, 18:54 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MGY
- Buy MGY near 26.74 target 29.03 stop loss @ 26.66 Details
The technical summary data tells us to buy MGY near 26.74 with an upside target of 29.03. This data also tells us to set a stop loss @ 26.66 to protect against excessive loss in case the stock begins to move against the trade. 26.74 is the first level of support below 27.08 , and by rule, any test of support is a buy signal. In this case, support 26.74 is being tested, a buy signal would exist.
- Short MGY slightly under 29.03, target 26.74, stop loss @ 29.11 Details
The technical summary data is suggesting a short of MGY as it gets near 29.03 with a downside target of 26.74. We should have a stop loss in place at 29.11though. 29.03 is the first level of resistance above 27.08, and by rule, any test of resistance is a short signal. In this case, if resistance 29.03 is being tested, a short signal would exist.
Swing Trading Plans for MGY
- Buy MGY slightly over 27.24, target 28.22, Stop Loss @ 27.16 Details
If 27.24 begins to break higher, the technical summary data tells us to buy MGY just slightly over 27.24, with an upside target of 28.22. The data also tells us to set a stop loss @ 27.16 in case the stock turns against the trade. 27.24 is the first level of resistance above 27.08, and by rule, any break above resistance is a buy signal. In this case, 27.24, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MGY slightly near 27.24, target 26.74, Stop Loss @ 27.32. Details
The technical summary data is suggesting a short of MGY if it tests 27.24 with a downside target of 26.74. We should have a stop loss in place at 27.32 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 27.24, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for MGY
- Buy MGY slightly over 27.24, target 27.58, Stop Loss @ 27.18 Details
If 27.24 begins to break higher, the technical summary data tells us to buy MGY just slightly over 27.24, with an upside target of 27.58. The data also tells us to set a stop loss @ 27.18 in case the stock turns against the trade. 27.24 is the first level of resistance above 27.08, and by rule, any break above resistance is a buy signal. In this case, 27.24, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MGY slightly near 27.24, target 26.74, Stop Loss @ 27.3. Details
The technical summary data is suggesting a short of MGY if it tests 27.24 with a downside target of 26.74. We should have a stop loss in place at 27.3 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 27.24, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Magnolia Oil & Gas Corporation Class A (MGY) available here: MGY.
MGY Ratings for November 13:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Strong |
| P1 |
0 |
0 |
24.41 |
| P2 |
27.12 |
27.24 |
26.74 |
| P3 |
27.58 |
28.22 |
29.03 |
AI Generated Signals for MGY
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Magnolia Oil & Gas Corporation Class A (NYSE: MGY) report below can help you understand how to do this. The trading plans for MGY, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MGY:
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