When Mgic Investment ($MTG) Moves Investors should Listen
May 26, 2023, 06:00 amET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MTG
- Buy MTG slightly over 13.91 target 14.96 stop loss @ 13.87 Details
The technical summary data tells us to buy MTG near 13.91 with an upside target of 14.96. This data also tells us to set a stop loss @ 13.87 to protect against excessive loss in case the stock begins to move against the trade. 13.91 is the first level of support below 14.9 , and by rule, any test of support is a buy signal. In this case, support 13.91 is being tested, a buy signal would exist.
- Short MTG slightly under 14.96, target 13.91, stop loss @ 15 Details
The technical summary data is suggesting a short of MTG as it gets near 14.96 with a downside target of 13.91. We should have a stop loss in place at 15though. 14.96 is the first level of resistance above 14.9, and by rule, any test of resistance is a short signal. In this case, if resistance 14.96 is being tested, a short signal would exist.
Swing Trading Plans for MTG
- Buy MTG slightly over 14.97, target 15.38, Stop Loss @ 14.93 Details
If 14.97 begins to break higher, the technical summary data tells us to buy MTG just slightly over 14.97, with an upside target of 15.38. The data also tells us to set a stop loss @ 14.93 in case the stock turns against the trade. 14.97 is the first level of resistance above 14.9, and by rule, any break above resistance is a buy signal. In this case, 14.97, 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 MTG slightly near 14.97, target 13.91, Stop Loss @ 15.01. Details
The technical summary data is suggesting a short of MTG if it tests 14.97 with a downside target of 13.91. We should have a stop loss in place at 15.01 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, 14.97, 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 MTG
- Buy MTG slightly over 14.97, target 15.38, Stop Loss @ 14.94 Details
If 14.97 begins to break higher, the technical summary data tells us to buy MTG just slightly over 14.97, with an upside target of 15.38. The data also tells us to set a stop loss @ 14.94 in case the stock turns against the trade. 14.97 is the first level of resistance above 14.9, and by rule, any break above resistance is a buy signal. In this case, 14.97, 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 MTG slightly near 14.97, target 13.91, Stop Loss @ 15. Details
The technical summary data is suggesting a short of MTG if it tests 14.97 with a downside target of 13.91. We should have a stop loss in place at 15 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, 14.97, 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.
MTG Ratings for May 26:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Strong |
Neutral |
| P1 |
0 |
0 |
12.80 |
| P2 |
14.97 |
14.97 |
13.91 |
| P3 |
0 |
15.38 |
14.96 |
⚠Triggers may have already come
Chart of MTG with Longer Term Pivots
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Mgic Investment (NYSE: MTG) report below is a real world example. Included are trading plans for MTG, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MTG:
