When the Price of (MGA) Talks, People Listen
April 13, 2024, 04:08 am ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MGA
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short MGA slightly under 50.57, target n/a, stop loss @ 50.72 Details
The technical summary data is suggesting a short of MGA as it gets near 50.57, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 50.72. 50.57 is the first level of resistance above 49.84, and by rule, any test of resistance is a short signal. In this case, if resistance 50.57 is being tested, so a short signal would exist.
Swing Trading Plans for MGA
- Buy MGA slightly over 50.58, target 51.98, Stop Loss @ 50.43 Details
If 50.58 begins to break higher, the technical summary data tells us to buy MGA just slightly over 50.58, with an upside target of 51.98. The data also tells us to set a stop loss @ 50.43 in case the stock turns against the trade. 50.58 is the first level of resistance above 49.84, and by rule, any break above resistance is a buy signal. In this case, 50.58, 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 MGA slightly near 50.58, target n/a, Stop Loss @ 50.73. Details
The technical summary data is suggesting a short of MGA if it tests 50.58 with a downside target of n/a. We should have a stop loss in place at 50.73 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, 50.58, 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 MGA
- Buy MGA slightly over 50.28, target 50.58, Stop Loss @ 50.16 Details
If 50.28 begins to break higher, the technical summary data tells us to buy MGA just slightly over 50.28, with an upside target of 50.58. The data also tells us to set a stop loss @ 50.16 in case the stock turns against the trade. 50.28 is the first level of resistance above 49.84, and by rule, any break above resistance is a buy signal. In this case, 50.28, 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 MGA slightly near 50.28, target n/a, Stop Loss @ 50.4. Details
The technical summary data is suggesting a short of MGA if it tests 50.28 with a downside target of n/a. We should have a stop loss in place at 50.4 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, 50.28, 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 Magna International Inc. (MGA) available here: MGA.
MGA Ratings for April 13:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
50.57 |
| P2 |
50.28 |
50.58 |
54.96 |
| P3 |
51.65 |
51.98 |
59.24 |
AI Generated Signals for MGA
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Magna International Inc. (NYSE: MGA) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for MGA can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MGA:
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