The Hourly View for MGNI
At the time of this writing, MGNI (Get Ratings)’s price is up $0.12 (0.43%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as MGNI has now gone up 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 Business Services stocks, MGNI ranks 145th in regards to today’s price percentage change.
MGNI’s Technical Outlook on the Daily Chart
At the moment, MGNI’s price is up $0.74 (2.58%) from the day prior. This is the 2nd day in a row MGNI has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 20 and 50 day moving averages have been crossed, with price now being above them. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Magnite Inc’s price action over the past 90 days can be seen via the chart below.
MGNI: Daily RSI Analysis
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