$MAG 3 Month #Rectangle #ChartPattern #Breatkout #Setup

AMEX:MAG   MAG Silver Corporation
MAG Silver Corp is setting up a possible nice breakout trade from the $18 level. The stock closed at an ATH on Friday and well above that $18 critical level that was tested back in 2016 and 2007. Notice the bear trap on 09/23 with the stock closing below rectangle support for one day only to rally the next day. This bear trap, I believe, will end up pushing the stock into higher grounds with short scrambling to cover their positions.

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