MGA Adds 0.15% Hitting New 52-Week High Near $52
$Magna(MGA)$
Magna International (MGA) Edges +0.15%: Automotive Giant Hits New 52-Week High at $52.20
Latest Close Data
MGA closed at $51.86 on Dec 15, up +0.15% ($0.08), reaching a new 52-week high of $52.20.
The stock has surged +70.6% from its 52-week low of $30.39, demonstrating exceptional recovery momentum.
Core Market Drivers
Automotive sector resilience drives MGA's sustained uptrend as global vehicle production stabilizes.
The company's diversified manufacturing portfolio and strategic positioning in electric vehicle components support institutional confidence.
Recent capital outflows of $577.12M on Dec 11 suggest profit-taking after significant gains.
Technical Analysis
Volume of 1.704M shares with 1.29x volume ratio indicates moderate institutional interest.
MACD shows bullish momentum with DIF (0.88) above DEA (0.63), generating positive histogram of 0.51.
RSI(6) at 83.5 signals overbought conditions but maintains upward trajectory, while KDJ K-line at 82.6 confirms strong buying pressure.
Key Price Levels
Primary Support: $46.24 (established Dec 12)
Immediate Pivot: $51.78 (previous close)
Strong Resistance: $51.94 (Dec 12 resistance level)
Valuation Perspective
Trading at P/E TTM of 14.22x, slightly above automotive sector average but justified by 3.74% dividend yield.
Forward P/E of 9.76x suggests attractive valuation relative to growth prospects, with P/S ratio of 0.35x indicating potential undervaluation.
Analyst Targets
18 analysts maintain average target of $51.88 (range: $43.00-$64.00). Consensus shows 4 Buy ratings, 14 Hold, and 2 Underperform, reflecting cautious optimism near current levels.
Weekly Outlook
Expect consolidation between $50.50-$53.00 as RSI cools from overbought territory.
Break above $52.20 targets $54.00-$55.00, while failure to hold $51.00 could trigger correction to $48.50 support zone.
Risk Disclaimer
This analysis is for informational purposes only and does not constitute investment advice. Past performance does not guarantee future results.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
