MCG - Creating a rectange pattern

Aug 2, 2020

MCG has gone sideways from R105 and R110 for the past 2 weeks. A close above or below those levels would trigger a trade in either direction.

Aug 10, 2020

Trade active

Trade idea is still active. Clear support at R105 from last week. One to watch should it break below

Aug 12, 2020

Trade active

Close below R105 and has triggered the short idea. A close above R105 would trigger the stop loss. 1st target is R100.

Aug 16, 2020

Trade active

Short idea was triggered on Friday as it close at R104.70. Stop loss is a close above R105 with 1st target at R100.

Aug 23, 2020

Trade active

Still active and slowly moving downwards. Lack of news regarding their Netflix and Amazon addition seems to have put some pressure on the stock. Stop loss is a close above R105.

Aug 31, 2020

Trade active

1st target reached. Full target is at R90. Trail stop loss to previous highs at R105.

Sep 13, 2020

Trade closed: target reached

Full target at R90 reached.