Is This Stock a Screaming Buy: Magic Software Enterprises Ltd. (NASDAQ:MGIC)

Equity Research firms currently have a positive stance on shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC). The majority of analysts covering the equity have a consensus Strong Buy recommendation on the stock, yielding a score of 1.50. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Those same analysts are projecting that the stock will reach $8.50 on a short term basis.

At the time of writing, the stock was trading at $7.29. This represents a change from the opening price of 1.53%. In terms of performance, year to date, the stock is 30.20%. The monthly stock performance comes in at -6.37%. For the quarter, shares are performing at 4.35%. Weekly performance analysis shows the equity at 2.13%.

In taking a look at technical levels, shares are trading -1.93% away from the 50 day simple moving average and 8.50% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -7.60% away from it’s 52- week high and 42.11% away from its 52 week low. After the recent moves, investors may also look to see if the stock has entered oversold or overbought territory and could be ripe for a bounce. As of writing, Magic Software Enterprises Ltd.’s RSI stands at 50.94. In looking at volatility levels, the shares saw weekly volatility of 1.15% and 2.57% over the past month.

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