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MGIC forms NR7 on September 12

SwingTradeBot Nightly Stock Scan: Magic Software Enterprises Ltd. (MGIC) — Technical Patterns & Alerts · Sep 12, 2025, 17:35 ET
MGIC closed flat on Friday, September 12th with volume at 0.6× average. consolidation patterns formed: NR7 and NR7-2 and Narrow Range Bar and Bollinger Band Squeeze, suggesting a potential continuation after price stabilization. Key support levels exist at 20.32, 20.22 & 20.14, with resistance at 20.51, 20.59 & 20.7. Meanwhile, Slow Stochastic is showing overbought conditions.

Current SwingTradeBot Technical Rating of MGIC: D

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Magic Software Enterprises Ltd. (MGIC)