Magnetek Inc Forecast and Stock Analysis
Technical MAG stock analysis for Thursday May 23, 2019.
|Shorts||10.70% ( 2019-04-15 )|
|Price to book||USD 3.70|
|Next Earnings Date||2019-08-13|
Magnetek Inc gained 0.98% in the last trading day ( Thursday, 23rd May 2019 ), rising from $9.17 to $9.26 During day the stock fluctuated 4.51% from a day low at $9.16 to a day high of $9.57. The price has fallen in 7 of the last 10 days and is down by -2.11% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 40 009 more shares were traded than the day before. In total, 145 084 shares bought and sold for approximately $1.34 million.
- 30 day high of the MAG stock price was $10.34 and low was $8.89.
- 90 day high was $11.58 and low was $8.89.
- 52 week high for the Magnetek Inc - $12.00 and low - $6.12.
Magnetek Inc lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.40% during the next 3 months and, with 90% probability hold a price between $7.47 and $9.73 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday May 20, 2019, which indicates further gains until a new top pivot has been found. Magnetek Inc has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Magnetek Inc holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $9.58. On a fall, the stock will find some support from the short-term average at $9.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 45 and the stock is currently not being overbought or oversold
Support & Resistance
Magnetek Inc finds support from accumulated volume at $9.24.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.41 (4.51%) between high and low. For the last week, the stock has had a daily average volatility of 2.91%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
2.91 %Average volatility
Very Low Low Medium High Very High
Magnetek Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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|MAG $9.26 ($0.09 0.98%)|
MAG is up $0.09 today, but where's it headed in 2019?
|Zacks Investment Research is releasing its prediction for MAG based on the 1-3 month system that more than doubles the S&P 500.
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