So a few days back, I posted a potential short trade on MGM, it reached my target.
For now, it is oversold on the 1,3,6 month chart and is at a support zone(61,8% fib level and longer-term support line at the same time)
You can also spot a regular divergence on the MACD.
Considering these circumstances, I expect a bounce from this level.
My first target is around 17,67
Be careful tho.
Using a stop-loss could be helpful.
Stop loss: 15,41
For now, it is oversold on the 1,3,6 month chart and is at a support zone(61,8% fib level and longer-term support line at the same time)
You can also spot a regular divergence on the MACD.
Considering these circumstances, I expect a bounce from this level.
My first target is around 17,67
Be careful tho.
Using a stop-loss could be helpful.
Stop loss: 15,41
