How the (MGEE) price action is used to our Advantage
May 12, 2024, 15:02 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MGEE
- Buy MGEE slightly over 78.8 target n/a stop loss @ 78.57. Details
The technical summary data tells us to buy MGEE near 78.8, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 78.57 to protect against excessive loss in case the stock begins to move against the trade. 78.8 is the first level of support below 81.18, and by rule, any test of support is a buy signal. In this case, if support 78.8 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for MGEE
- Buy MGEE slightly over 82.02, target n/a, Stop Loss @ 81.78 Details
If 82.02 begins to break higher, the technical summary data tells us to buy MGEE just slightly over 82.02, with an upside target of n/a. The data also tells us to set a stop loss @ 81.78 in case the stock turns against the trade. 82.02 is the first level of resistance above 81.18, and by rule, any break above resistance is a buy signal. In this case, 82.02, 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 MGEE slightly near 82.02, target 80.59, Stop Loss @ 82.26. Details
The technical summary data is suggesting a short of MGEE if it tests 82.02 with a downside target of 80.59. We should have a stop loss in place at 82.26 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, 82.02, 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 MGEE
- Buy MGEE slightly over 82.11, target n/a, Stop Loss @ 81.92 Details
If 82.11 begins to break higher, the technical summary data tells us to buy MGEE just slightly over 82.11, with an upside target of n/a. The data also tells us to set a stop loss @ 81.92 in case the stock turns against the trade. 82.11 is the first level of resistance above 81.18, and by rule, any break above resistance is a buy signal. In this case, 82.11, 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 MGEE slightly near 82.11, target 81.06, Stop Loss @ 82.3. Details
The technical summary data is suggesting a short of MGEE if it tests 82.11 with a downside target of 81.06. We should have a stop loss in place at 82.3 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, 82.11, 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 Mge Energy Inc. (MGEE) available here: MGEE.
MGEE Ratings for May 12:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Neutral |
| P1 |
0 |
0 |
66.08 |
| P2 |
81.06 |
80.59 |
72.31 |
| P3 |
82.11 |
82.02 |
78.8 |
AI Generated Signals for MGEE
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Mge Energy Inc. (NASDAQ: MGEE) data table below can help you with price action, and we have more details too. Trading plans for MGEE are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MGEE:
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