Magnite, Inc.Long
MGNI | Zoom out to spot 40.50$ support zone
Hey guys, if we zoom out to the weekly timeframe, MGNI is showing us real strength around the 40.50$ mark, which coincides at the moment with the 20 week moving average. If the following criteria are met through to the end of the week, I see this as a great zone for accumulation.
- Weekly candle has to close above 40.50$
- I would like to see the RSI diverge slightly wrt price
For anyone trading the name i'd SL at 37$ and target ~60$ all time highs. But I prefer the name for long term.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
- Weekly candle has to close above 40.50$
- I would like to see the RSI diverge slightly wrt price
For anyone trading the name i'd SL at 37$ and target ~60$ all time highs. But I prefer the name for long term.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.