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Comprehensive non-correlated Mgic Investment $MTG Trading Report

October 15, 2020, 05:00 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Technical Summary

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	3.84
P2	10.44	10.75	6.77
P3	10.66	11.38	9.14

⚠Triggers may have already come

Support and Resistance Plot Chart for MTG

Long Term Trading Plans for MTG

October 15, 2020, 5:00 am ET

The Technical Summary and Trading Plans for MTG help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this MTG Report.

MTG - (Long) Support Plan

The technical summary data tells us to buy MTG near 9.14, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 9.11 to protect against excessive loss in case the stock begins to move against the trade. 9.14 is the first level of support below 10.37, and by rule, any test of support is a buy signal. In this case, if support 9.14 is being tested, a buy signal would exist.

MTG - (Short) Resistance Plan

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.