RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MGNI
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Magnite, Inc. stock upgraded to Buy Candidate.
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The Magnite, Inc. stock price gained 3.56% on the last trading day (Thursday, 28th Mar 2024), rising from $10.38 to $10.75. During the last trading day the stock fluctuated 5.20% from a day low at $10.39 to a day high of $10.93. The price has fallen in 6 of the last 10 days and is down by -4.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 565 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $13.30 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.26 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 26.28% during the next 3 months and, with a 90% probability hold a price between $12.96 and $16.51 at the end of this 3-month period.

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MGNI Signals & Forecast

The Magnite, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $10.53 and $10.64. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -12.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Magnite, Inc. stock

Magnite, Inc. finds support from accumulated volume at $10.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.540 between high and low, or 5.20%. For the last week, the stock has had daily average volatility of 3.78%.

Our recommended stop-loss: $10.26 (-4.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (MGNI) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Magnite, Inc. to open at $10.69, and during the day (based on 14 day Average True Range), to move between $10.23 and $11.27, which gives a possible trading interval of +/-$0.515 (+/-4.79%) up or down from last closing price. If Magnite, Inc. takes out the full calculated possible swing range there will be an estimated 9.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.71 (0.37%) than the resistance at $11.52 (7.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Magnite, Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Magnite, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.747 Buy Candidate Upgraded

Predicted Opening Price for Magnite, Inc. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$10.69 ( 0.558%) $10.75

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MGNI

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 11.23 4.47 %
R2 11.02 2.55 %
R1 10.90 1.36 %
Current price: 10.75
Support S1 10.48 -2.48 %
S2 10.36 -3.66 %
S3 10.15 -5.58 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 12.02 11.81 %
R2 11.79 9.67 %
R1 11.52 7.16 %
Current price 10.75
Support S1 10.71 -0.372%
S2 10.47 -2.60%
S3 10.41 -3.16%

FAQ

What is the symbol for Magnite, Inc. Stock and on which exchange is it traded?
The symbol for Magnite, Inc. is MGNI and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Magnite, Inc. Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Magnite, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy Magnite, Inc. Stock?
Magnite, Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Magnite, Inc. Stock.

What's the current price of Magnite, Inc. Stock?
As of the end of day on the 2024-03-28, the price of an Magnite, Inc. (MGNI) share was $10.75.

What is the 52-week high and low for Magnite, Inc. Stock?
The 52-week high for Magnite, Inc. Stock is $15.73 and the 52-week low is $6.28.

What is the market capitalization of Magnite, Inc. Stock?
As of the 2024-03-28, the market capitalization of Magnite, Inc. is 1.504B.

When is the next earnings date for Magnite, Inc.?
The upcoming earnings date for Magnite, Inc. is May 08, 2024.
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About Magnite, Inc.

Magnite. Magnite, Inc. operates an independent sell-side advertising platform in the United States and internationally. The company's platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties, to manage and monetize their inventory; and provides applications and services for buyers, including advertisers, agencies, agenc... MGNI Profile

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