- MGL has reached at its Very Strong S&D area from where it has taken multiple times support.
- If it survive and get demand then can head towards 100+ up-move.
- If it doesn't survive(not get enough demand, and suppliers win) then we can see 100+ down-move too.
- Down-move of stock is not expected (but in the market we never knows)
- Oct & Nov month will play an important role for this stock. Because in past, it takes 1 month for testing area and stop its fall. In another 1 month, it starts bounce back to up-move.
- In case it fails to get enough demands then stock will land in its worst price structure. In that case may be many investor start off-boarding. Stock may land into long consolidation too. That would be really very bad phase of this stock. But seeing its past behavior, this may not happen. :)
- Let's keep close eye on its!
Note:
- Sharing for knowledge and information purpose only and not for trade.
MGL
Comment:
Comment:
last 6 day sessions has been engulfed today positively (but on low volume). Lets see if this boost in gaining demands & support from crowd!
email: profitPattern@gmail.com
Telegram: 💲💲💲https://t.me/ProfitPattern
YouTube: youtube.com/c/ProfitPattern
Telegram: 💲💲💲https://t.me/ProfitPattern
YouTube: youtube.com/c/ProfitPattern
Today it took resistance near the previous S&D area. Also, if we draw a Fibo retracement from where the recent swing started it was exactly 38.2%.
Let's keep watching for good volumes and sign of continuation or reversal confirmation.