MAGNOLIA OIL & GAS - Daily - Technical analysis published on 01/31/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 11.69 USD
My targets
10.60 USD (-2.21%)
9.82 USD (-9.41%)
My analysis
MAGNOLIA OIL & GAS is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 11.69 USD. The next support located at 10.60 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 9.82 USD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
4.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAGNOLIA OIL & GAS price is 10.84 USD. On the day, this instrument lost +1.21% and was between 10.51 USD and 10.86 USD. This implies that the price is at +3.14% from its lowest and at -0.18% from its highest.10.51
10.86
10.84
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of MAGNOLIA OIL & GAS indicates that the overall trend is bearish. 64.29% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 9.82 | 10.60 | 10.84 | 11.69 | 13.10 | 13.92 |
| Change (%) | -9.41% | -2.21% | - | +7.84% | +20.85% | +28.41% |
| Change | -1.02 | -0.24 | - | +0.85 | +2.26 | +3.08 |
| Level | Intermediate | Intermediate | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.06 | 10.32 | 10.52 | 10.78 | 10.98 | 11.24 | 11.44 |
| Camarilla | 10.58 | 10.63 | 10.67 | 10.71 | 10.75 | 10.79 | 10.84 |
| Woodie | 10.02 | 10.31 | 10.48 | 10.77 | 10.94 | 11.23 | 11.40 |
| Fibonacci | 10.32 | 10.50 | 10.61 | 10.78 | 10.96 | 11.07 | 11.24 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.45 | 10.28 | 10.77 | 11.59 | 12.08 | 12.91 | 13.40 |
| Camarilla | 10.90 | 11.02 | 11.14 | 11.26 | 11.38 | 11.50 | 11.62 |
| Woodie | 9.29 | 10.19 | 10.60 | 11.51 | 11.92 | 12.82 | 13.23 |
| Fibonacci | 10.28 | 10.78 | 11.09 | 11.59 | 12.09 | 12.40 | 12.91 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.39 | 10.13 | 11.36 | 12.10 | 13.33 | 14.07 | 15.30 |
| Camarilla | 12.04 | 12.22 | 12.40 | 12.58 | 12.76 | 12.94 | 13.12 |
| Woodie | 9.63 | 10.25 | 11.60 | 12.22 | 13.57 | 14.19 | 15.54 |
| Fibonacci | 10.13 | 10.89 | 11.35 | 12.10 | 12.86 | 13.32 | 14.07 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 28.57 | |
| MACD (12,26,9): | -0.3400 | |
| Directional Movement: | -26.77 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 11.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.82 | |
| Elder Ray (13): | -0.84 | |
| Super Trend (3,10): | 11.71 | |
| Zig ZAG (10): | 10.84 | |
| VORTEX (21): | 0.7100 | |
| Stochastique (14,3,5): | 7.39 | |
| TEMA (21): | 10.95 | |
| Williams %R (14): | -84.29 | |
| Chande Momentum Oscillator (20): | -1.48 | |
| Repulse (5,40,3): | -0.8300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1400 | |
| Courbe Coppock: | 22.75 |
| MA7: | 11.16 | |
| MA20: | 12.06 | |
| MA50: | 11.93 | |
| MA100: | 11.38 | |
| MAexp7: | 11.17 | |
| MAexp20: | 11.74 | |
| MAexp50: | 11.79 | |
| MAexp100: | 11.57 | |
| Price / MA7: | -2.87% | |
| Price / MA20: | -10.12% | |
| Price / MA50: | -9.14% | |
| Price / MA100: | -4.75% | |
| Price / MAexp7: | -2.95% | |
| Price / MAexp20: | -7.67% | |
| Price / MAexp50: | -8.06% | |
| Price / MAexp100: | -6.31% |
This member declared not having a position on this financial instrument or a related financial instrument.
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