MFG magellan financial group limited

At what point does one consider accumulating?

  1. 314 Posts.
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    Full disclaimer - I've commenced building a long-term position lately and will continue to monitor for further opportunities.

    I recall when the intelligent Investor released a broker note on MFG back in December 2021 with BUY < $45.. watched this stock since and it's astonishing to see what's happened.

    I don't usually peruse monthly charts too often but this one piques the interest. I just can't help but feel that in 3-5 years time, you might be looking back at the one opportunity there was to accumulate <$9 - and it was in 2023.

    Monthly:

    .
    https://hotcopper.com.au/data/attachments/5553/5553728-6a49f0207d9fe584bc61ccf2c60a05ea.jpg

    Monthly RSI has been smashed down to oversold for the best part of 18 months.The weekly chart is also interesting - after the RSI went into way oversold in early 2022, it's been rising steadily since while the share price has continued to tumble - until only recently where a few things are starting to suggest a base may be forming including the very recent 50/200 cross on the weekly.

    Weekly:


    https://hotcopper.com.au/data/attachments/5553/5553791-c7ddb8bbeb149976b8aee7bd9351aa8c.jpg

    Daily:

    https://hotcopper.com.au/data/attachments/5553/5553811-a30092f755fc624fd1f99c9c5ac95627.jpg
 
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(20min delay)
Last
$8.39
Change
-0.050(0.59%)
Mkt cap ! $1.451B
Open High Low Value Volume
$8.38 $8.43 $8.34 $842.8K 100.4K

Buyers (Bids)

No. Vol. Price($)
12 683 $8.38
 

Sellers (Offers)

Price($) Vol. No.
$8.39 2471 26
View Market Depth
Last trade - 11.25am 17/06/2025 (20 minute delay) ?
MFG (ASX) Chart
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