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Magic Software Enterprises Ltd. (MGIC) - Buy, Sell or Hold?

Sector: Technology   Sub-Sector: Computer Software: Prepackaged Software
Trade DateCurrent Candlestick PatternPrevious Candlestick PatternWhenPerformance Since
Tue, 28 Nov 2017DojiBearish EngulfingFri, 17 Nov 2017-2.91%
***Stock database and scans are updated around midnight (New York time) every trading day.
8.35 0.00 (0%) Nov 28 4:00pm EST
Open: 8.35 Range: 8.30 - 8.40 Vol: 11.87K Avg Vol: 32K
EPS: 0.27 P/E ratio: 32.78 EBITDA: 36.98M Mkt Cap: 390.57M
Analyze "MGIC" - FREE 30 Day Trial of Market Analyst 7
Short Term: Trend is Down
Last Trade is below the 5 day moving average at 8.38
Medium Term: Trend is Down
Last Trade is below the 20 day moving average at 8.67
Last Trade is below the 50 day moving average at 8.85
Long Term: Trend is Up
Last Trade is above the 200 day moving average at 8.17
* Data normalized for Splits & Dividends. Report data issues
How to use this info: Stock Timing With Moving Averages
Daily Chart of MGIC

Stock Trend Analysis - Buy, Sell or Hold "Magic Software Enterprises Ltd." (MGIC)?

MGIC is in a very strong uptrend. In the last 52 weeks, MGIC has been trading above the 200 day moving average for 89% of the time with an average daily volume of 32K shares being traded. The 50 day moving average, currently at 8.85, although still maintaining a bullish inclination, is however exhibiting characteristics of a medium term trading range. As the dominant long term trend is still up strongly, the high probability trade is still buying the dips. The 20 day moving average is in a trading range and is generally bucking the trend with a bearish bias. MGIC was only able to maintain above the 20 SMA for 35% of the time in the last month of trading. Objectively, in a strong uptrend, the high probability strategy is to buy dips. A good area for traders who are considering taking a long position in MGIC is near the 200 SMA currently at 8.17. Click here for the latest support & resistance levels to help you finetune your entry into or exit out of "MGIC".

The analyst consensus estimates for the 1 year price target for this stock is $10.00* (*source: Yahoo Finance).

Objective Technical Analysis by BannRonn TA LogicEngine ver 1.1. Last Updated - Tue, 28 Nov 2017
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