1) On Daily time frame It took perfect reversal from 200DMA with good green candle. Now next hurdle for this stock will be 1140-1150 critical zone.
On breakout of this range it will be good bullish till 1200 level. 1200 is another major resistance.
Please refer below chart : daily time frame. ...
MGL after a big up move, taken a big retracement and now again started to take bullish reversal, so give an entry with appropriate Stop loss
Aggressive traders enter at the breakout and conservative traders may give entry after retracement
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single...
1) Today's Closing is second highest closing ever, volumes are not super duper but highest after 26th of May.
2) RSI is in upside mood.
3) MGL is making rounding bottom(clearly in weekly chart)
4) Market Support
Monday Possibility 1) Rounding bottom breakout
2) Lifetime high breakout can not be neglected
All important zones marked on chart very clearly, you can easily identify the support and resistance levels of MGL it faced over the time period.
My personal view is for upside breakout but will wait for the confirmation as markets moves with setup and price action not on our thinking and mindset.
So even I am expecting MGL to move upside till 1230-1250 before...
After downtrend in MGL in today's session, we got the breakout of the neckline of an inverse head and shoulder pattern with good buying volume. After some movement, we will see a small correction according to the pattern but it will continue its rally towards the 920+ target in next few trading session.
For trading, 840-845 is a good entry point with a stop loss...