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(MGIC) Magic Software complete technical analysis [charts+indicators] | Buy/Sell Magic Software | (MGIC) share price targets

Complete technical analysis of Magic Software (MGIC) by charts plus indicators, forecast predictions and share price targets for Magic Software (MGIC)

Magic Software trades in USA in Technology sector.

10 day averaged volume of Magic Software is 59869

Date Daily Closing Price Open High Low Volume
31 Fri May 2024 10.63 10.70 10.73 10.60 0.406 times
30 Thu May 2024 10.70 10.64 10.80 10.61 0.479 times
29 Wed May 2024 10.69 10.67 10.83 10.57 0.715 times
28 Tue May 2024 10.93 10.58 11.06 10.54 1.251 times
23 Thu May 2024 10.44 10.57 10.59 10.36 0.585 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 10.9, but if it comes above 10.9, then a intra day buy could be more profitable.
If you take a sell trade below 10.9, then use 10.9 as stoploss and 9.9 as target. However if you take a buy trade in stock , then use 10.9 as stoploss and 11.66 as target.

Share price targets for Magic Software (MGIC)

Target Type Value
Downside Target 9.38
Downside Target 9.94
Downside Target 10.36
Upside Target 10.86
Upside Target 11.32
Upside Target 11.96
Upside Target 12.09
Upside Target 12.27
Upside Target 12.51
Upside Target 12.55
Upside Target 12.99

Intraday share price targets for Magic Software (MGIC)

Target Type Value
Downside Intraday Target 10.43
Downside Intraday Target 10.22
Upside Intraday Target 10.95
Upside Intraday Target 11.26
Upside Intraday Target 10.74

Weekly technical analysis of Magic Software (MGIC)

Date Weekly Closing Price Open High Low Volume
31 Fri May 2024 10.63 10.58 11.06 10.54 0.6 times
23 Thu May 2024 10.44 11.47 11.53 10.36 0.814 times
17 Fri May 2024 11.88 12.43 12.99 11.48 2.427 times
10 Fri May 2024 12.40 12.22 12.51 11.96 0.586 times
03 Fri May 2024 12.01 11.75 12.09 11.58 1.149 times

Price has moved up this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Magic Software (MGIC)

Date Monthly Closing Price Open High Low Volume
31 Fri May 2024 10.63 11.77 12.99 10.36 0.822 times
30 Tue Apr 2024 11.81 11.85 12.27 11.32 0.889 times
28 Thu Mar 2024 11.45 11.21 12.55 10.42 1.655 times
29 Thu Feb 2024 11.17 10.05 11.34 9.94 0.626 times

Price has moved down this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Magic Software (MGIC)

Indicator Name Indicator Value Indicator Signal
ADX 17, 39, 40 Sell
MACD -0, -0Sell
Stochastics 12Sell
CCI -55Sell
RSI 43Sell
OBV -17460Sell
VWAP 11Sell
ADL 0Sell
ROC -17Sell
Force Index 0Sell

Price action analysis of Magic Software ( (MGIC) ) based on a short term time period is negative, but trend is highly volatile. A longer duration price action analysis might give a better picture of the trend in this stock.

Price action analysis of Magic Software ( (MGIC) ) based on a short term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Magic Software ( (MGIC) ) based on a short to mid term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Magic Software ( (MGIC) ) based on a mid to longer term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

ADX buy sell signal for Magic Software stock for short term is SELL. Signal strength is Strong and stock is gaining momentum.

MACD generated a SELL signal for Magic Software in short term and the sell signal is strong.

Magic Software Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are getting stronger in this stock.

Ichimoku cloud is of red color and prices are in or above the red cloud Prices appear to be coming down

CCI has generated a SELL signal for Magic Software in short term and SELL signal is strong!

RSI is generating a SELL signal in short term but selling is losing momentum.

MRSI is in negative zone. This is the SELL zone

Stock of Magic Software is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 11.05 and Magic Software (MGIC) stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

People seem to be coming out and selling the Magic Software (MGIC) stock. Volume based technical analysis of Magic Software (MGIC) stock is negative.

Magic Software Stock has given negative returns over a short term period. Returns for a longer term period have been negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.

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