Magna International (NYSE:MGA) traded at a new 52-week high today of $111.56. This new high was reached on approximately average trading volume as 328,000 shares traded hands, while the average 30-day volume is approximately 398,000 shares.
Potential upside of 3.4% exists for Magna International, based on a current level of $110.98 and analysts' average consensus price target of $114.78. The stock should discover initial support at its 50-day moving average (MA) of $104.54 and subsequent support at its 200-day MA of $91.67.
Magna International Inc. designs, develops, and manufactures automotive systems, assemblies and components, and engineers and assembles complete vehicles. The Company sells its products primarily to original equipment manufacturers.
Over the past year, Magna International has traded in a range of $72.73 to $111.56 and is now at $110.98, 53% above that low. The 200-day and 50-day moving averages have moved 0.70% higher and 1.09% higher over the past week, respectively.