Magellan Financial (MFG.AX)
Trading: HOLD @ $26.93
Signal Strength: MEDIUM
Magellan Financial (ASX:MFG) currently has positive momentum of 0.74. This means the current price is greater than the price 14 days ago and therefore gaining momentum.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has the ability to detect the speed of movement & give an early signal for a potential movement. By understanding the rate at which the price is moving in respect to the stocks historical trades, enables positions to be set in place based on changes in the speed of movement
Momentum measures the rate of change in closing prices and is used to detect trend weakness and likely reversal points. It is often underrated because of its simplicity. High Momentum readings (positive or negative) occur when a trend is at its strongest. Lower readings are found at the start and end of trends. Overbought and oversold levels are set separately for each security based on the performance of the indicator over past cycles.
Calculation: Momentum Oscillator (MOM):
1) Closing Price [today] - Closing Price [n days ago];
PROFILE: Magellan Financial (MFG.AX)
Stock Exchange: ASX
Company: Magellan Financial
Ticker Codes: | MFG.AX | ASX:MFG |
Magellan Financial Group is a publicly owned investment manager. The firm provide its services to high net worth, retail, and institutional investors. Magellan Financial Group is based in Sydney, Australia.
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