LeLaf
Long

MNGA Descending Wedge may reverses downtrend

NASDAQ:MNGA   MAGNEGAS CORP -
57 7 0
Currently in a descending wedge at close to 60% of its lenght.
May be on the verge of breaking line A-B. If so, uptrend will occur with a long goal of 1,58$.
Stopped out!
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Pull back on a bearish engulfing candle. Waiting .
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About 15% of goal completed. Bearish engulfing candle. Waiting.
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Broke the patern on volume. Taking a long position.
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Broke B-D line but not convinced. Waiting for a clear sign, like a candle formation.
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Bounced off the 1,15$ resistance. Trying to break B-D line but not quite there yet.
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Support at 1,15$. May bounce off after hitting it.
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