M&G PLC (LON: MNG): MNGL Stock Price Will Strike $229.4 Level

M&G PLC (LON: MNG): MNGL Stock Price Will Strike $229.4 Level

  • The M&G PLC stock price is currently trading at $202.1 ranging between $206.4 and $183.20 levels.
  • The 1-month return of the MNGL stock is 5.95% while observing 0.31% during intraday trading sessions.
  • M&G PLC stock’s price trades above the 20-day, 50-day, 100-day, and 200-day EMAs.

The M&G PLC stock price is trading at the $202.1 level in a sideways phase. It is consolidating between the $206.4 and $183.20 levels, but the stock price recently took support on the $198.95 level. This level would probably become the key point in the breakout of the upper range or resistance at $206.4.

The MNGL returned 7.07% this year to the current date, 5.95% in the month, and 0.31% during the intraday trading session. This stock’s price is more likely to reach up to the $229.4 level after taking support at the $206.4 level. This level is important because the stock price tried more than 3 times to break that resistance. It is currently sustaining near the level from taking support at $198.95.

M&G PLC (LON: MNG): MNGL Stock Price Will Strike $229.4 Level
Source: MNGL by TradingView

The M&G PLC stock price took support from the $183.20 level on Aug 21, 2023. It surged upward until it reached the resistance of $206.4 and then it got a little correction at $198.95. This probably breaks out this resistance, after that it may go for another major resistance level of $229.4.

If the stock price breaks the support level of $198.95, once again the price may start to range between the support and resistance levels.

The M&G PLC Stock Will Continue To Trade In Uptrend

In the current trading session, the stock price is performing in a sideways pattern. It is constantly trying to break the upper resistance level. There has been a high probability that the stock price will continue to trade in an uptrend because on March 20, 2023, it started a bullish rally toward the previous resistance level at $229.4. It is still trying to get there.

The 52-week high and low of the MNGL stock are $229.90 and $159.30 respectively. So, the stock price is closer to the high rather than the low. It signifies that the price has a high probability of reaching a 52-week high level.

Will MNGL Sustain Above 198.95 Level?

M&G PLC (LON: MNG): MNGL Stock Price Will Strike $229.4 Level
Source: MNGL by Tradingview

The M&G PLC stock price is currently trading at $202.1 level above the 20, 50, 100, and 200-day EMAs, indicating the price is moving toward an uptrend. The 20, 50, and 100-day EMAs are also trying to rise above the 200-day EMA at the current price action. RSI signals are strengthening toward the upper band without divergence at 60.79 and 60.51.

The MACD is flashing more volume on the bullish side and a bit less volume on the bearish side. The averaging signal lines at 2.780 and 2.029, moving toward bullish volume indicating that buyers are in control.

Technical Levels
  • Resistance Levels: $206.4 and $229.4
  • Support Levels: $198.95 and $183.20

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment and any other advice. Investing in or trading stocks comes with the risk of financial loss.

Leave a Reply

Your email address will not be published. Required fields are marked *