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Magnolia Oil & Gas Corporation
Long

MGY long position

By vf_investment
We are expecting the price to continue the uptrend and retrace to the 78.6% Fib Zone. The Stochastic Oscillator shows the stock is oversold, which indicates a probable pull back to the upside. Also, the price is currently at the lower part of the Keltner Channel, therefore we are expecting it to bounce back and create a higher high.

Entry: 24
Invalidation: 22.92
Target: 26.99
Bullish Pin BarChart PatternsFibonacci RetracementTechnical IndicatorskeltnerchannelMGYstochasticoscillatorTechnical AnalysisWave Analysis
vf_investment
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