The Hourly View for MGEE
At the moment, MGEE (Get Ratings)’s price is down $-0.07 (-0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Out of Utilities stocks, MGEE ranks 80th in regards to today’s price percentage change.
MGEE’s Technical Outlook on the Daily Chart
At the time of this writing, MGEE’s price is down $-0.07 (-0.09%) from the day prior. MGEE has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows MGEE’s price action over the past 90 days.
<In comparison to its 7 day average, MGEE's volume of shares traded is 98.86% lower, now standing at 593.
MGEE: Daily RSI Analysis
- For MGEE, its RSI is now at 0.
- MGEE and RSI may be exhibiting divergent trends. This may be something to monitor.
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The post Mge Energy Inc (MGEE): Price Now Near $74.29; Daily Chart Shows Downtrend on 50 Day Basis appeared first on ETF Daily News.