Following Trading Action on This Stock: Magellan Health, Inc. (NASDAQ:MGLN): Fibonacci Pivot at 64.3933

Investors may be analyzing the portfolio as we continue to move closer to the end of the year. Studying first half results may assist to identify trades that panned out, and those that didn’t. Keeping tabs on pervious trade outcomes may be a good way to accurately see what actually happened. It may be necessary to dig a little deeper to try and figure out why certain trades worked, and why others did not. Many investors may feel like they have missed the boat, and they may be wondering if stocks will see increased momentum closing out the year. Attaining comprehensive knowledge of the markets may take years to truly figure out. Combining technical analysis and tracking fundamentals may help the investor see the complete picture and develop confidence for trading into the future. Being able to sift through the endless sea of information may take some perseverance and extreme focus. 

Investors tracking shares of Magellan Health, Inc. (NASDAQ:MGLN) will note that the stock has seen a change of 0.3888889% since the open. Shares recently finished the previous session at 63.245. The one month high for the stock is currently standing at 66.5799. 

Investors may be interested in the current Bull Bear Power reading on the stock which is currently at -1.43583. Investors may also be looking at some historical volatility numbers. Volatility for the month is presently 2.517009. Looking back for the previous week, volatility is 2.5569293.

Technical stock analysts are always using every possible piece of information to help make the best possible trades. A popular flexible indicator is the Ichimoku Cloud. This indicator can help portray the momentum and trend direction of a stock. Ichimoku signals can help the trader find possible entry and exit points. Checking on some recent indicator levels for Magellan Health, Inc. (NASDAQ:MGLN), we note that the Ichimoku Could Conversion Line level is 64.015, and the Ichimoku Cloud Base Line level is 63.65245. Tracking some variations, the Ichimoku Lead 1 is presently 59.6675, and the Lead 2 level is 58.44.

Switching the focus to the Awesome Oscillator, we see that the present reading is 0.32541764. Traders may be watching this oscillator to help identify a change in momentum. The AO can be a useful tool when trying to understand certain price movements.

Traders often use pivot point indicators when conducting technical stock analysis. Pivot points are commonly used to help identify trends of various time periods. Let’s check on some different one month pivot points:

Camarilla: 64.3933
Classic: 64.3933
Classic resistance 1: 65.6666
Classic support 1: 62.2067
Fibonacci: 64.3933
Fibonacci support 1: 63.071617
Fibonacci support 2: 62.25508
Woodie: 64.31998
Woodie support 1: 62.06005
Woodie resistance 1: 65.51995

Traders may be keeping a close eye on shares of Magellan Health, Inc. (NASDAQ:MGLN). Looking at past price performance may help them gauge how the stock will react in the future. Keeping in mind the most recent close price of 63.245, we note that the stock has seen a move of -2.9772866 over the previous week. Looking back out over the last month, the stock has moved 3.7924807. Over the past three months, the stock has seen a change of -9.166667. Investors may want to go back even further to see what has transpired over a longer period of time. Since the start of the calendar year, shares have changed 11.126736. Going back a full 52 weeks, the stock has seen a change of -34.65633 over that period of time.

Traders may be looking at some EMA levels on company shares. The exponential moving average can be very useful when applied correctly. They tend to work well when markets are trending. Here’s a look at some popular EMA levels:

50 day EMA: 62.297226
100 day EMA: 61.686775
200 day EMA: 64.87255
10 day EMA: 63.75519
20 day EMA: 63.688637
30 day EMA: 63.246574

When deciding how to best approach the stock market, individual investors may need to figure out what their time horizon is going to be. Short-term traders may only be looking to hold stocks for a short period in order to capitalize on fluctuations. Longer-term investors may be looking at more of a buy and hold strategy, and they may not be very concerned with the day to day shifts of a stock’s price. Accumulating as much knowledge as possible about specific stocks and the markets in general can help the investor prepare for success. Because there is no magic strategy that can be employed to guarantee profits, investors may need to evaluate multiple methods before choosing which one to pursue.