MGIC Investment Corp. (MTG)

[tommiegun54]

TRIPLE TOP BREAKOUT FAILED TRY FOR MTG

After failing to BREAKOUT three times at about $14.50, MTG IS on a downtrend.(see the chartschool dotcom chart for 3 months embedded here: https://investorshub.advfn.com/boards/board.aspx?board_id=15326tv

The Relative Strength Indicator(RSI) is showing lower highs and lower lows, which is powerful because, it is the best indicator of future performance.

The RSI is classified as a momentum oscillator, measuring the velocity and magnitude of directional price movements. Momentum is the rate of the rise or fall in price. The RSI computes momentum as the ratio of higher closes to lower closes: stocks which have had more or stronger positive changes have a higher RSI than stocks which have had more or stronger negative changes.

The macd is bearish showing a crossover below the centerline.

Against the backdrop of an overbought MARKET, I expect a pullback however, longer-term view remains positive fundamentally for MGIC INVESTMENT.