claystation4
Long

MGT Long on breakout signal

AMEX:MGT   MGT CAPITAL INVTS INC
54 0 4
Long MGT             as price action this morning is now confirming a breakout. The recent wedge on the daily chart dating back to the beginning of the summer signaled a breakout was inevitable. Volume is also higher than recent days which reaffirms my stance. Bid intraday at 3.34 with a stop at 3.00 (which gives wiggle room on the downside...a break below 3.00 would most definitely signal a reversal with possible retracement toward early 2016 price levels). If the 3.34 bid is not hit by the end of the day I will enter going into the close. I look for a conservative price target near the June highs at 4.00. RR is 2/1. If you follow my 10000 USD base account recommendations I advise a long position of 500 shares (I sold our recent BOBE long this morning at 40.04 for profit to free up margin to finance this trade. BOBE price action was also diverging from the overall market trend signaling weak momentum post earnings ).
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out