As this happened, RBC Capital Mkts downgraded its Magna International Inc [MGA] rating to a Sector perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early March from “a Buy” to “a Neutral”. RBC Capital Mkts also remained covering MGA and has increased its forecast on January 24, 2025 with a “an Outperform” recommendation from previously “Sector perform” rating. Goldman revised its rating on December 11, 2024. It rated MGA as “a Sell” which previously was an “a Neutral”.
Price Performance Review of MGA
On Monday, Magna International Inc [NYSE:MGA] saw its stock jump 4.45% to $36.35. Over the last five days, the stock has gained 9.22%. Magna International Inc shares have fallen nearly -13.02% since the year began. Nevertheless, the stocks have fallen -22.79% over the past one year. While a 52-week high of $48.18 was reached on 01/07/25, a 52-week low of $30.39 was recorded on 04/08/25. SMA at 50 days reached $34.63, while 200 days put it at $39.77.
Levels Of Support And Resistance For MGA Stock
The 24-hour chart illustrates a support level at 36.01, which if violated will result in even more drops to 35.66. On the upside, there is a resistance level at 36.73. A further resistance level may holdings at 37.10. The Relative Strength Index (RSI) on the 14-day chart is 63.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.73%. Stochastics %K at 76.74% indicates the stock is a holding.
