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Magna International Inc (MGA) Becoming More Attractive for Investors

As this happened, RBC Capital Mkts upgraded its Magna International Inc [MGA] rating to an Outperform from a a Sector perform in a research note published on January 24, 2025; the price target was increased to $52 from $41. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in mid December from “a Neutral” to “a Sell”. Wolfe Research also remained covering MGA and has increased its forecast on December 05, 2024 with a “Peer perform” recommendation from previously “an Underperform” rating. Morgan Stanley revised its rating on September 25, 2024. It rated MGA as “an Equal-weight” which previously was an “an Overweight”.

Price Performance Review of MGA

On Friday, Magna International Inc [NYSE:MGA] saw its stock fall -4.41% to $39.67. Over the last five days, the stock has lost -3.64%. Magna International Inc shares have fallen nearly -5.07% since the year began. Nevertheless, the stocks have fallen -30.40% over the past one year. While a 52-week high of $59.37 was reached on 01/07/25, a 52-week low of $38.01 was recorded on 01/10/25. SMA at 50 days reached $42.67, while 200 days put it at $43.07.

Levels Of Support And Resistance For MGA Stock

The 24-hour chart illustrates a support level at 39.02, which if violated will result in even more drops to 38.36. On the upside, there is a resistance level at 40.79. A further resistance level may holdings at 41.90. The Relative Strength Index (RSI) on the 14-day chart is 38.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.25%. Stochastics %K at 60.45% indicates the stock is a holding.

How much short interest is there in Magna International Inc?

A steep rise in short interest was recorded in Magna International Inc stocks on 2025-01-15, dropping by -0.96 million shares to a total of 6.02 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 6.98 million shares. There was a decline of -15.91%, which implies that there is a negative sentiment for the stock.

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