Technical Analysis for MGLN - Magellan Health Services, Inc.
|Grade||Last Price||% Change||Price Change|
MGLN closed up 0.23 percent on Friday, January 18, 2019, on 77 percent of normal volume. The stock exhibited some range contraction during this trading session as price made an NR7 -- narrowest range of the last seven sessions. The price action carved out a bearish shooting star candlestick pattern. That may indicate a downside reversal. Look for price to trade beneath the low of the shooting star for confirmation. Note that the stock is in overbought territory based on its Slow Stochastic indicator (14, 3, 3) -- sideways movement or a pullback should not be unexpected.
|Weak or Absent||Down||Up||Up|
|See historical MGLN trend table...|
|Date||Alert Name||Type||% Chg|
|Jan 18||Shooting Star Candlestick||Bearish||0.00%|
|Jan 18||Lizard Bearish||Bearish Day Trade Setup||0.00%|
|Jan 18||Pocket Pivot||Bullish Swing Setup||0.00%|
|Jan 18||NR7||Range Contraction||0.00%|
|Jan 18||Doji - Bearish?||Reversal||0.00%|
|Jan 18||Overbought Stochastic||Strength||0.00%|
|Jan 18||Up 3 Days in a Row||Strength||0.00%|
|Jan 18||Up 4 Days in a Row||Strength||0.00%|
|Jan 17||Overbought Stochastic||Strength||0.23%|
|Jan 17||Up 3 Days in a Row||Strength||0.23%|
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Magellan Health Services, Inc. engages in the specialty managed healthcare business in the United States. The company, through its contracted network of third-party treatment providers, offers managed behavioral healthcare services, including outpatient programs, such as counseling or therapy; intermediate care programs comprising intensive outpatient programs and partial hospitalization services; and inpatient treatment and crisis intervention services. It also provides radiology benefits management services, such as the delivery of diagnostic imaging and other therapeutic services through contracts with health plans and insurance companies, and governmental agencies. In addition, the company offers specialty pharmaceutical management services, including contracting and formulary optimization programs; specialty pharmaceutical dispensing operations; and medical pharmacy management programs. Its specialty pharmaceutical management services are provided under contracts with health plans, insurance companies, employers, and governmental agencies to manage specialty drugs used in the treatment of conditions, such as cancer, multiple sclerosis, hemophilia, infertility, rheumatoid arthritis, chronic forms of hepatitis, and other diseases. Further, the company provides Medicaid administration services comprising network management, formulary and rebate management, point-of-sale claims processing systems and administration, clinical prior authorization, and drug utilization review under contracts with health plans and employers, as well as public sector clients sponsoring Medicaid and other state benefit programs. It serves health plans, insurance companies, employers, labor unions, and various governmental agencies. Magellan Health Services, Inc. was founded in 1969 and is based in Avon, Connecticut.
|Indicator||Bull Case||Neutral / Hold||Bear Case|
|Oversold / Overbought|
|Summary:||Counts: 1 bullish, 1 bearish and 3 neutral indicators. You may wish to incorporate that into your trading strategies.|
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|52 Week High||112.25|
|52 Week Low||51.88|
|200-Day Moving Average||77.7545|
|50-Day Moving Average||58.086|
|20-Day Moving Average||58.3775|
|10-Day Moving Average||60.983|
|Average True Range||2.0559|
|Chandelier Exit (Long, 3 ATRs )||57.1723|
|Chandelier Exit (Short, 3 ATRs )||59.4277|
|Upper Bollinger Band||63.9241|
|Lower Bollinger Band||52.8309|
|Percent B (%b)||0.86|
|MACD Signal Line||0.5392|
|Market Cap||1.48 Billion|
|Num Shares||23.7 Million|
|Price-to-Earnings (P/E) Ratio||17.76|
|Pivot Point Level||Traditional / Classic||Fibonacci||Demark||Woodie||Camarilla|
|Resistance 4 (R4)||63.99|
|Resistance 3 (R3)||64.14||63.74||63.72|
|Resistance 2 (R2)||63.74||63.32||63.67||63.62|
|Resistance 1 (R1)||63.04||63.06||62.84||62.89||63.53|
|Support 1 (S1)||61.94||62.22||61.74||61.79||61.15|
|Support 2 (S2)||61.54||61.96||61.47||61.06|
|Support 3 (S3)||60.84||61.54||60.97|
|Support 4 (S4)||60.69|