Magellan Financial Group Stock Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Magellan Financial Group Stock Quote
- Double Formation
* 11.00 AUD | Area Of Value
* (Consolidation Argument)) | Subdivision 1
- Triple Formation
* No Trade)) At 5.00 AUD | Subdivision 2
* Numbered Retracement | Uptrend Bias | Subdivision 3
* Daily Time Frame | Trend Settings Condition
Active Sessions On Relevant Range & Elemented Probabilities;
European Session(Upwards) - US-Session(Downwards) - Asian Session(Ranging)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
MFG trade ideas
Magellan Financial Group (ASX: MFG)Magellan Financial Group Limited is a publicly owned investment manager.
It invests in global equities and global listed infrastructure markets across the globe in 2004 (20 years)
AUM (Asset under management), FUM (Fund under management) has dropped significantly.
However, interestingly the company has maintained profitable business model (recent Earning down to 182.66m, still 42.4% profit margin) with only 115 employees, has no debt and excellent financial health, stable equity & stable dividend (payout ratio 82.5%).
It will not be surprised to see no grow in revenue/ earning in next a couple years & regain (lost fund).
What investment strategies should they use next?
22/02/2024
MFG.ASX_Bullist Breakout Trade_LongENTRY: 15.38
SL: 14.38
TP1: 16.02-16.65
TP2: 17.46
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned except 200EMA.
- Breakout of downtrend since 20 Dec 2021 and small consolidation zone since 29 Jul 2022 with volume.
- Possible change in trend on 20 Jul 2022
- Entry today based on breakout and >3% rebound off 10EMA with volume.
- Watch out for upcoming earnings.
MFG.ASX_Bearish Pullback Trade_ShortENTRY: 11.61
SL: 12.61
TP: 9.55
- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Breakdown on 6 Jun 2022 before retracing back to support-turn-resistance area.
- Another breakdown and rebound off 10EMA on 4 Jul 2022. Downtrend still intact.
- Entry based on today >3% rebound off 10EMA. Would like volume to be higher.
- More downside once break 11.10.
Bullish Pivot Point Reversal where it matters.A bullish complex Pivot Point Reversal, where it matters again, most likely caught the short seller off guard forcing them to cover. This is the message from our charts at present. Bulls are now charging in the short term as the bear retreat takes place. Looking forward to $50 zone being tested over the weeks ahead.
This analysis is for educational purposes only.
Dow Theory Medium Term Trend Change Confirmation.This post complements my earlier post made on 15/10 www.tradingview.com
It shows the bar where a medium term trend has changed from down to up.
It is a simple as drawing zig zag lines and noting the high and low points where CHANGE occurs.
This change, in the case with MFG, alerts us that the bears have lost control to bulls in the medium term.
Although the next higher timeframe trend( Long Term or 3rd Time Frame not shown) remains down change here means a counter-trend rally being underway.
Again, this post is for educational purposes only.
Dow Theory medium term trend identification theory application.If it is too technical for you, may move on. If you want to learn the correct application of Dow Theory medium term trend, study this chart religiously. I have marked/identified all relevant price points for you.
I have become an active technical analyst of MFG as of last week. Why ? See my previous Point and Figure post on MFG as I have been stalking it for a fair while.
What have I done here on this daily chart ? I have identified high and low points that enables me to draw the medium term trend peaks and troughs.
Why ? To identify the change where it matters as the Dow himself would have.
So far, it is all Lower Peaks and Lower Troughs as can be seen.
Analysis continues as an anticipated change of this Medium term trend from down to up may be imminent in the coming days....
Is the worse over for MFG ?Completed TOP(Top Pattern) in Blue Box and a down target calculation from it as shown on the chart may suggest a formation of a congestion/trading range at current levels and a halt/stop to the current down move.
Congestions can either be an accumulation or distribution patterns. Interesting to see which(accumulation or distribution) forms over the months ahead ???
Sharp and decisive counter trend rally(short term up move) is likely as the shorters are likely to cover their shorts soon !
Analysis of the bar/candle charts will reveal further insights as major test of the 2020 Low is now likely to take place.
This analysis is for educational purposes only.
MFG - Is it a brekout?MFG has managed to close above the Bearish Trendline (Wedge) with very high volume volume. The bounce is expected to continue towards its Resistance which should be the take profit zone now. There is Bullish Divergence on MACD suggesting that the Bearish Momentum has finished and the Bulls have taken control. My trade plan is given below:
TP1 - 54.7 (Potential gain 15%)
Stoploss - $41.5
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
$MFG - MAGELLAN - Performing well$MFG - MAGELLAN - Performing well
Magellan has been having a good run this year. Might be worth a look for those with more conservative portfolios.
About Magellan
Magellan Financial Group Limited is a fund management company. The Company's objective includes offering international investment funds to high net worth and retail investors in Australia and New Zealand, and institutional investors across the globe. Its segments include Funds Management, Principal Investments and Corporate. The funds management activities of the Company are undertaken by the controlled entities, Magellan Asset Management Limited (MAM) and MFG Services LLC (MFGS). MAM's funds management activities comprise acting as trustee, responsible entity and investment manager for the managed investment schemes offered primarily to Australian and New Zealand investors. MFGS acts as a service company providing MAM with services of investment analysts and distribution personnel based in the United States. The principal investment portfolio comprises its investments in the Australian Stock Exchange (ASX) Quoted Funds, the Unlisted Magellan Funds and the Frontier MFG Funds.
$MFG long trade set-upThe buy order I placed last night was hit, with a nice surprise today when I opened the charts. This happened on others as well. Im anticipating a pullback on the US S&P so I might take my money and run with these given the volatility in the markets right now. Not financial advice.