MAGNA INT'L
(MGA-NYSE):
Technical Viewpoint: From a low
of $30.82 on May 28, 2009 prices
rallied, reaching a
high of $39.89
on Jun 10, 2009. A
decline saw prices pull back, reaching a
low of
$35.79 on Jun 15, 2009.
Another rally saw prices penetrate
resistance, closing 6/19/09
at $40.77. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jun 21, 2009 when the solid line crossed the dotted line to the upside.
Support: Remains at $37.00. Resistance: Is at $42.00.
Point & Figure: Reversed to the upside on Jun 16, 2009. A P&F upside
reversal takes place at $37.00. Summary: Technical indicators have turned bullish. BUY! Magna Int'l
(MGA-NYSE) @ $41.13 Stop: Use a protective stop of $39.13.
Magna Int'l is currently trading @ $40.77 plus $2.79 on Jun 19, 2009. Price Objective:
$52.50. Risk/Reward: $2.00 VS. $11.37. Today's Risk Reward Ratio: 6:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$52.50
Risk/Reward:
$2.00 VS. $11.37
Risk/Reward Ratio:
6:1
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