Magna International (MGA) : Traders are bullish on Magna International (MGA) as it has outperformed the S&P 500 by a wide margin of 3.09% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.55%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.06% in the last 1 week, and is up 2.96% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.05% and the 50-Day Moving Average is 7.77%.The 200 Day SMA reached 5.55%. Magna International Inc. is up 1.38% in the last 3-month period. Year-to-Date the stock performance stands at 3.25%.
Magna International (NYSE:MGA): After opening at $40.54, the stock dipped to an intraday low of $40.47 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $41.12 and the buying power remained strong till the end. The stock closed at $41.1 for the day, a gain of 2.19% for the day session. The total traded volume was 1,127,313. The stocks close on the previous trading day was $40.22.
Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development, engineering and sales centers in approximately 28 countries. Its product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Its customers include General Motors, Fiat-Chrysler, Ford, BMW, Daimler and Volkswagen. Its offers programs, which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America, Europe and Asia.