MGY Stock Surges +8.19%: A Promising Week for Magnolia Oil & Gas
Magnolia Oil & Gas (MGY) recently made headlines as its stock price surged by a remarkable +8.19% to reach $20.73 per share. This surge has attracted the attention of investors, suggesting a potential change in the trend and presenting a compelling buy signal. Let's explore the factors behind this promising momentum and understand the broader context within the Oil & Gas Production Industry.
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One of the key indicators of a potential trend change is MGY's price movement above its 50-day Moving Average on June 16, 2023. This signifies a potential shift in the stock's direction, making it an attractive opportunity for investors. In fact, A.I.dvisor's analysis of similar cases reveals that out of 48 instances, 39 resulted in successful outcomes, indicating favorable odds of success at 81%.
Adding further to the positive momentum, MGY's Momentum Indicator turned positive on June 7, 2023, surpassing the 0 level. This development suggests a potential shift towards an upward trend in the stock's price. Traders and investors often view positive momentum indicators as a signal to buy the stock or explore call options. Tickeron's A.I.dvisor examined 94 similar instances where the Momentum Indicator turned positive, and in 80 of those cases, the stock continued to move higher in the following days, providing encouraging odds of a continued upward trend at 85%.
Fundamental analysis ratings for MGY also provide valuable insights. The Valuation Rating stands at 54, indicating that the stock is reasonably valued. The P/E Growth Rating of 79 reflects potential for future earnings growth, while the Price Growth Rating of 60 suggests moderate growth prospects. The SMR Rating, which assesses sales, margin, and return on equity, is 60, indicating overall stability. With a Profit Risk Rating of 78, MGY showcases a relatively low risk profile. However, it's important to note that the Seasonality Score is -16, suggesting a lack of consistent seasonal patterns.
Within the Oil & Gas Production Industry, Magnolia Oil & Gas stands out with its recent surge. While the specific market capitalization for MGY is not provided in the available information, it's worth noting that the average market capitalization in the industry is $3.41 billion. Additionally, the industry's market cap ranges from as low as $3.28 thousand to as high as $126.96 billion, with COP being the highest-valued company and PSTRQ being the lowest-valued.
Examining price performance within the Oil & Gas Production Industry, we observe an average weekly price growth of 2%. The monthly price growth also stands at 2%, indicating stable growth in the industry. However, the average quarterly price growth reveals some volatility at -2%. Notably, AXAS experienced the highest price growth at 198%, demonstrating strong performance, while CSPUF suffered the largest decline at -43%.
MGY sees its Stochastic Oscillator climbs out of oversold territory
On October 28, 2024, the Stochastic Oscillator for MGY moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 66 instances where the indicator left the oversold zone. In of the 66 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
Technical Analysis (Indicators)
Bullish Trend Analysis
MGY moved above its 50-day moving average on October 02, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for MGY crossed bullishly above the 50-day moving average on September 26, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MGY advanced for three days, in of 308 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 289 cases where MGY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for MGY moved out of overbought territory on September 24, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 38 similar instances where the indicator moved out of overbought territory. In of the 38 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on October 18, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on MGY as a result. In of 101 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for MGY turned negative on October 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 51 similar instances when the indicator turned negative. In of the 51 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MGY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.824) is normal, around the industry mean (5.175). P/E Ratio (12.838) is within average values for comparable stocks, (19.495). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (5.525). Dividend Yield (0.018) settles around the average of (0.085) among similar stocks. P/S Ratio (4.021) is also within normal values, averaging (153.585).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. MGY’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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Fundamental Analysis Ratings
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General Information
a company, which engages in oil and gas exploration and production business
Industry OilGasProduction