Is MGE Energy, Inc. technically bullish or bearish?

As of 12 September 2025, the technical trend for MGE Energy, Inc. has changed from mildly bearish to bearish. The current stance is bearish with a weak strength indicated by the weekly MACD and Bollinger Bands both showing bearish signals. The daily moving averages also confirm a bearish trend. The KST is bearish on the weekly and mildly bearish on the monthly, while the Dow Theory indicates a mildly bearish trend on the weekly timeframe. The OBV shows a mildly bullish signal on the weekly but is mildly bearish on the monthly, suggesting mixed signals in the short term.
In terms of performance, MGE Energy has underperformed the S&P 500 across multiple periods, with a year-to-date return of -10.48% compared to the S&P 500's 12.22%, and a one-year return of -7.40% versus 17.14%. Overall, the technical indicators suggest a bearish outlook for MGE Energy, with weakness in the current trend.