Hey traders, MAGNA INTERNATIONAL is in a fake bearish configuration with a high volume of sales executed at the end of the session with a hammer bear candle. On the TIMEFRAME M1 we can see a panic, it goes in the direction of its last precedent lower. Which is also on a strong support and renogiciation for a price increase to see. Strong possibility of breaking...
Companies will get hit with Corona Virus Manufacturers and suppliers will get hit 4x. Nice short considering this company" still makes gas vehicles. Does not have a clear vision of the future and is not a trend settter. With all the head winds I doubt it will even be able to reach new highs
Nice cup and handle with support at base. Potential run up of this stock prior to earnings, a break through the 200SMA would be a very bullish signal.
MGA: Magna International Inc. 2018-10-25 08:00:00 Magna Invests in Advanced Motion-control Software by Acquiring Haptronik GmbH
MGA is on short list because of possible monthly false breakout and correction to weekly support. On daily chart we can see selling from high and that selling pace is stronger then buying pace in to high. Idea is equal move and move to 50/100sma support area. On the 60 min time frame we can see that daily pattern but also, we can see 200sma area and it is...
Double Top. Short @ 59.40 Stop 59.90 1st. target = $58. Morgan Stanley Downgrade, Trade wars
trending up, with a retrace. small position size. and dynamic SL
Here is a perfect company for Warren Buffett's Berkshire to acquire. Trading for less than 50% of sales. Entrenched in most major auto manufacturers and possible takeover by Apple or Amazon or Alphabet if they want to be players in autonomous autos. MGA should be bought today or tomorrow around 43. Chart says tomorrow and this price area is a great low risk entry...
has not been invalidated yet, no lower low.
As indicated previously I forecasted a breakout which occured. We got overbought so I expect a pullback to 56.84 which will offer a good spot to go long with small risk.