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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 62540

Date	Daily Closing Price	Open	High	Low	Volume
18 Thu Apr 2024	11.45	11.61	11.62	11.32	0.947 times
17 Wed Apr 2024	11.62	11.61	11.71	11.39	1.249 times
16 Tue Apr 2024	11.66	11.84	11.91	11.48	1.674 times
15 Mon Apr 2024	11.83	11.91	11.94	11.71	0.883 times
12 Fri Apr 2024	11.74	11.73	11.75	11.52	0.95 times
11 Thu Apr 2024	11.73	11.90	11.90	11.68	0.648 times
10 Wed Apr 2024	11.89	12.03	12.06	11.80	0.461 times
09 Tue Apr 2024	12.24	12.27	12.27	12.04	2.498 times
08 Mon Apr 2024	11.56	11.60	11.66	11.54	0.566 times
05 Fri Apr 2024	11.33	11.44	11.46	11.33	0.55 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 11.5, but if it comes above 11.5, then a intra day buy could be more profitable.
If you take a sell trade below 11.5, then use 11.5 as stoploss and 11.3 as target. However if you take a buy trade in stock , then use 11.5 as stoploss and 11.76 as target.

Share price targets for Magic Software (MGIC)

Target Type	Value
Downside Target	9.00
Downside Target	9.38
Downside Target	9.94
Downside Target	10.42
Downside Target	10.86
Downside Target	11.32
Upside Target	11.87
Upside Target	12.02
Upside Target	12.10
Upside Target	12.27
Upside Target	12.55

Intraday share price targets for Magic Software (MGIC)

Target Type	Value
Downside Intraday Target	11.2
Downside Intraday Target	10.95
Upside Intraday Target	11.82
Upside Intraday Target	12.19
Upside Intraday Target	11.57

Weekly technical analysis of Magic Software (MGIC)

Date	Weekly Closing Price	Open	High	Low	Volume
18 Thu Apr 2024	11.45	11.91	11.94	11.32	0.928 times
12 Fri Apr 2024	11.74	11.60	12.27	11.52	0.905 times
05 Fri Apr 2024	11.33	11.85	12.02	11.33	1.286 times
28 Thu Mar 2024	11.45	12.04	12.10	11.35	0.871 times
22 Fri Mar 2024	12.04	12.17	12.55	11.87	0.49 times

Price has moved down 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
18 Thu Apr 2024	11.45	11.85	12.27	11.32	0.649 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	0.597 times
31 Wed Jan 2024	9.99	9.64	10.86	9.38	1.109 times

Scroll below to view daily charts

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)

Price action analysis of Magic Software ( (MGIC) ) based on a short 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 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 negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

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

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

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 green color and prices are in or below the green 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 BUY signal in short term but buying 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 11.79 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 positive

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