There were two ocassions when the trendline was crossed over, once on the upside and once on the down side. On both occasions the moves were pretty decisive.
Now, MGL is back at that trend-line and this time from the down side which means it's a possible resistance.
Keep this on radar and trade the direction.
Please like and follow.
Here's my two cents - I think if you are looking from the eyes of an investor, then don't bother about the levels. I thought you were a day trader.
Okay fundamentally, MGL is fantastically placed. You are right, PE is lower than that of IGL and the dividend yield is higher too. Not only that, it's got a great Price to Book value, far superior of IGL. On the business front, it is fast expanding in both CNG and Domestic pipeline services too. It's a great stock if you want to hold for long term.
It is a part of my portfolio too. And I am planning to accumulate more if it goes below 1070.