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 MTG
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Green day on Friday for MGIC Investment Corporation
(Updated on Jul 19, 2024)

Buy or Hold candidate since Jul 09, 2024 Gain 9.35% PDF

The MGIC Investment Corporation stock price gained 0.0428% on the last trading day (Friday, 19th Jul 2024), rising from $23.39 to $23.40. During the last trading day the stock fluctuated 1.12% from a day low at $23.30 to a day high of $23.56. The price has risen in 8 of the last 10 days and is up by 9.14% over the past 2 weeks. Volume fell on the last day by -671 thousand shares and in total, 770 thousand shares were bought and sold for approximately $18.03 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $23.60 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.61% during the next 3 months and, with a 90% probability hold a price between $23.27 and $25.87 at the end of this 3-month period.

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MTG Signals & Forecast

The MGIC Investment Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.04 and $21.57. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Wednesday, July 17, 2024, and so far it has fallen -0.552%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for MGIC Investment Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $21.18 and $20.94. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MGIC Investment Corporation finds support just below today's level at $21.18. If this is broken, then the next support from accumulated volume will be at $20.94 and $20.51.

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 $0.260 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 2.16%.

The MGIC Investment Corporation stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $22.68 (-3.06%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (MTG) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect MGIC Investment Corporation to open at $23.42, and during the day (based on 14 day Average True Range), to move between $22.96 and $23.84, which gives a possible trading interval of +/-$0.440 (+/-1.88%) up or down from last closing price. If MGIC Investment Corporation takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.53 (0.56%) than the support at $21.18 (9.49%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is MGIC Investment Corporation 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 MGIC Investment Corporation stock to perform well in the short-term.

Current score: 2.208 Buy Candidate Unchanged

Predicted Opening Price for MGIC Investment Corporation of Monday, July 22, 2024

Fair opening price July 22, 2024 Current price
$23.42 ( 0.0855%) $23.40

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

Trading levels for MTG

Fibonacci Support & Resistance Levels

Level Price
R3 23.68 1.20%
R2 23.58 0.772%
R1 23.52 0.510%
Price 23.40
S1 23.32 -0.339%
S2 23.26 -0.601%
S3 23.16 -1.03%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0 -
R2 0 -
R1 23.53 0.556%
Price 23.40
S1 21.18 -9.49%
S2 20.94 -10.51%
S3 20.51 -12.35%

MTG Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 25, 2024 May 08, 2024 May 21, 2024 $0.115 0.549%
2 Jan 23, 2024 Feb 14, 2024 Mar 05, 2024 $0.115 0.581%
3 Oct 26, 2023 Nov 08, 2023 Nov 28, 2023 $0.120 0.689%
4 Jul 27, 2023 Aug 09, 2023 Aug 24, 2023 $0.115 0.670%
5 Apr 27, 2023 May 10, 2023 Aug 24, 2023 $0.100 0.582%

FAQ

What is the symbol for MGIC Investment Corporation Stock and on which exchange is it traded?
The symbol for MGIC Investment Corporation is MTG and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell MGIC Investment Corporation 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 MGIC Investment Corporation stock to perform well in the short-term.

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

What's the current price of MGIC Investment Corporation Stock?
As of the end of day on the Jul 19, 2024, the price of an MGIC Investment Corporation (MTG) share was $23.40.

What is the 52-week high and low for MGIC Investment Corporation Stock?
The 52-week high for MGIC Investment Corporation Stock is $23.84 and the 52-week low is $16.30.

What is the market capitalization of MGIC Investment Corporation Stock?
As of the Jul 19, 2024, the market capitalization of MGIC Investment Corporation is 6.238B.

When is the next earnings date for MGIC Investment Corporation?
The upcoming earnings date for MGIC Investment Corporation is Jul 31, 2024.
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About MGIC Investment Corporation

MGIC Investment MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses asso... MTG Profile

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