22-April-2024 | Live Market Analysis
Magna International Inc
Short Term
NYSE: #MGA
Disclaimer: This analysis is for educational purposes only and should not be considered as trading advice or recommendations. Always conduct your own research before making any investment decisions.
Horizontal shows two periods of resistance and one of support
The one of support is the most recent and should be considered as a bullish sign.
I have labelled the points.
The PEAD projected a Neutral outlook for $MGA after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
The PEAD projected a Bullish outlook for $MGA after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
A gap from Dec 2020 was closed in trading yesterday.
It would seem that asset managers are liquidating assets of companies with large manufacturing operations in Russia.
Magna has 2,500 employees in Russia in 6 facilities.
Russia conflict is likely to add even more supply chain constraints for auto manufacturers.
I really like Magna, should the conflict in...
Nice looking technical formation. Breakout + Volume increases. Holding 20MA and 50MA.
Stop Loss 96.00, may consider to cut some loses if it drops under 100.00.
Take profit 110 - 115.
Magna has an impressive 63-year storied history which includes countless innovative collaborations within the auto industry. Over the six decades, Magna has developed the expansive core competencies across all components and manufacturing processes that make up the complete automobile. Not only does Magna have a manufacturing presence in 27 countries, they also...
since the original rumors regarding the Apple electric car being assembled by the canadian-owned Magna Company the company stocks have been on the rise. The expectancy went a little bit too far and a divergence in the MACD has currently formed. After a light price correction, the Price might go higher. The first Fibonacci extension was elected as point of exit for...
MAGNA -- NICE GROWTH CHART forming - riding a channel upwards.
EVs and self driving
Magna’s stunning performance could be a long-term trend. That’s because the company is gradually establishing itself as a key player in the electric vehicle and self-driving spaces.
The company recently inked a deal with LG to start manufacturing batteries for electric vehicles....
MAGNA - Normal pullback on the channel expected as seen for now... should have some support possibly..
It is RIDING the weekly channel upward for quite a few months...with pullbacks on the FIB.382 LINE AREAS consistent. Looking for some strong volume to change direction next week. It is quite a bit high above the 50MA, so some cause for concern....but may depend...
Hi again everybody! This is pretty nice! Taking a long in CDN stock MG at 90.67 with a target of 95.90! Could pull back some more before the thrust upwards!
Looking to buy into Magna as an EV play with reputation and track record. Big break out on some news. Looking for it to retest the previous ATH and would like that to fail and hopefully I can get in at the low 80s. Same with others, I’m not in a rush to get into this. RSI showing over bought. I should be able to get some sort of discount here.
$MGA is projected to have a slight bullish outlook after a Positive under reaction following its earnings with the PEA placing the stock in Drift A.
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
Hey traders, MAGNA INTERNATIONAL is in a fake bearish configuration with a high volume of sales executed at the end of the session with a hammer bear candle. On the TIMEFRAME M1 we can see a panic, it goes in the direction of its last precedent lower. Which is also on a strong support and renogiciation for a price increase to see. Strong possibility of breaking...
