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Magic Software Enterprises Ltd. (NASDAQ: MGIC) stock has been on a recent stock market downtrend, cause some concern for shareholders.
Investors may be trying to decide if the current market environment remains bullish. It can be very difficult to decide when to sell, especially when it seems positive. Jumping in to buy stocks can be a good idea, but it may be more important. Following long-term trends can help the investor see the bigger picture of what has been going on with a specific stock or sector. Deciding to sell a winner after a long time can be used, but it can be better. Avoiding common investment pitfalls may take many years to master, but it may be long-term success.
When a stock is experiencing a downtrend, it is more likely to be lower, making its price decline. Each successive relative is below the previous day's low, and each successive relative is below the preceding day's high. A downtrend continues until the series of lower highs and lower lows is changed. This indicates a buy signal, and is an indication that a downtrend will end soon.
It is important to consider the moving averages of a downtrending security. We see here that Magic Software Enterprises Ltd. (NASDAQ: MGIC) is -5.65% off the 20-Day Simple Moving Average. Their 50-Day Single Moving Average is a difference of -8.93% from current levels. Further back, their 200-Day Simple Moving Average is -5.87% difference from today's price. Currently, the stock is -13.04% from its 50-Day High and 0.00% from the 50-day low.
RSI and Recommendations
Magic Software Enterprises Ltd.'s RSI is 29.42. Based on the volatility for the week, which is a statistical measure of the dispersion of returns and a daily average of 3.72% and 2.95%.
Wall Street badysts have a consensus 1.70 recommendation on the stock.
Magic Software Enterprises Ltd. (NASDAQ: MGIC) 's performance this year to date is -4.51%. The stock has performed -4.19% over the last seven days, -9.09% over the last thirty, and -5.33% over the last three months. Over the last six months, Magic Software Enterprises Ltd.'s stock has been -1.84% and -10.11% for the year.
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the position of any of the stakeholders, financial professionals, or badysts. Examples of badysis performed within this article are only examples. They should not be used to make a stock portfolio or financial decisions. Assumptions made within the badysis are not reflective of the position of any badysts or financial professionals.
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