When the Price of (MGY) Talks, People Listen
October 01, 2024, 15:44 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MGY
- Buy MGY near 23.73 target 26 stop loss @ 23.66 Details
The technical summary data tells us to buy MGY near 23.73 with an upside target of 26. This data also tells us to set a stop loss @ 23.66 to protect against excessive loss in case the stock begins to move against the trade. 23.73 is the first level of support below 24.735 , and by rule, any test of support is a buy signal. In this case, support 23.73 would be being tested, so a buy signal would exist.
- Short MGY slightly under 26, target 23.73, stop loss @ 26.08 Details
The technical summary data is suggesting a short of MGY as it gets near 26 with a downside target of 23.73. We should have a stop loss in place at 26.08though. 26 is the first level of resistance above 24.735, and by rule, any test of resistance is a short signal. In this case, if resistance 26 is being tested, so a short signal would exist.
Swing Trading Plans for MGY
- Buy MGY slightly over 26, target 28.28, Stop Loss @ 25.92 Details
If 26 begins to break higher, the technical summary data tells us to buy MGY just slightly over 26, with an upside target of 28.28. The data also tells us to set a stop loss @ 25.92 in case the stock turns against the trade. 26 is the first level of resistance above 24.735, and by rule, any break above resistance is a buy signal. In this case, 26, 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 26, target 23.96, Stop Loss @ 26.08. Details
The technical summary data is suggesting a short of MGY if it tests 26 with a downside target of 23.96. We should have a stop loss in place at 26.08 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, 26, 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 26, target 28.28, Stop Loss @ 25.94 Details
If 26 begins to break higher, the technical summary data tells us to buy MGY just slightly over 26, with an upside target of 28.28. The data also tells us to set a stop loss @ 25.94 in case the stock turns against the trade. 26 is the first level of resistance above 24.735, and by rule, any break above resistance is a buy signal. In this case, 26, 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 26, target 24.21, Stop Loss @ 26.06. Details
The technical summary data is suggesting a short of MGY if it tests 26 with a downside target of 24.21. We should have a stop loss in place at 26.06 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, 26, 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 October 01:
Term → | Near |
Mid |
Long |
Rating |
Weak |
Strong |
Strong |
P1 |
0 |
0 |
23.73 |
P2 |
23.25 |
23.96 |
26 |
P3 |
24.21 |
25.84 |
28.28 |
AI Generated Signals for MGY
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 Magnolia Oil & Gas Corporation Class A (NYSE: MGY) 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 MGY 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 MGY: