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small-cap

One NASDAQ – Listed Software Stock at Resistance Level: Magic Software Enterprises Ltd

Apr 10, 2024 | Team Kalkine
One NASDAQ – Listed Software Stock at Resistance Level: Magic Software Enterprises Ltd

MGIC:NASDAQ
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Magic Software Enterprises Ltd

Company Overview: Magic Software Enterprises Ltd. (NASDAQ: MGIC) is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business. It operates through two segments: software solutions and IT professional services.

As per our previous US Daily report published on ‘MGIC’ on 15th November 2024, Kalkine provided a ‘Buy’ stance on the stock at USD 8.52 based on “decent business and financial updates, technical analysis, and price action and the stock price has now moved by ~41.20% since then and the price has crossed resistance 1 and resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

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