Looking at the current trend on the Daily Chart, we see there are three possibilities on MLGO:
1.
It can breakDown from the current support of ema20 to re-test the RED downWard channel to further downSide.
2.
From the end of July'25, a healthy depth of Cup was being formed which peaked to $13.6 from the ytd_Low $7.82 and then kept re-testing ema20 as it's support between $10-$10.6 area for last few days which now looks like a strong Handle. If this ema20 or support of $10 does not break with the current surge in Volume, surely this Bullish Trend can complete a successful Cup&Handle outcome touching around $19.5 which is a solid 85% from current price.
3.
It's been almost two Quarters starving to touch ema50, which is apparently a due with the current level of Volume since the last Reverse Split.
-We've also seen a similar Bullish CrossOver between ema5 and ema20 on early July'25 when after the CrossOver ema5 worked as a Resistance for a few days before the price pushing through for 75% upSide. We're currently at the exact same situation except ema50 is much closer within the range.
-Volume Profiling shows there is significant amount of Buyers/Sellers right above current ema50 price target which can cutDown/disContinue this bullishNess to below 57% from the current price level.
Considering all 3scenerios above, stop-loss is at-least at $10 to minimize the loss from this Paper-Trading concept.
This is not a buy/sell advice, rather shared to learn from others' opinions on MLGO chart.
1.
It can breakDown from the current support of ema20 to re-test the RED downWard channel to further downSide.
2.
From the end of July'25, a healthy depth of Cup was being formed which peaked to $13.6 from the ytd_Low $7.82 and then kept re-testing ema20 as it's support between $10-$10.6 area for last few days which now looks like a strong Handle. If this ema20 or support of $10 does not break with the current surge in Volume, surely this Bullish Trend can complete a successful Cup&Handle outcome touching around $19.5 which is a solid 85% from current price.
3.
It's been almost two Quarters starving to touch ema50, which is apparently a due with the current level of Volume since the last Reverse Split.
-We've also seen a similar Bullish CrossOver between ema5 and ema20 on early July'25 when after the CrossOver ema5 worked as a Resistance for a few days before the price pushing through for 75% upSide. We're currently at the exact same situation except ema50 is much closer within the range.
-Volume Profiling shows there is significant amount of Buyers/Sellers right above current ema50 price target which can cutDown/disContinue this bullishNess to below 57% from the current price level.
Considering all 3scenerios above, stop-loss is at-least at $10 to minimize the loss from this Paper-Trading concept.
This is not a buy/sell advice, rather shared to learn from others' opinions on MLGO chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.