MGR has bounced off from Support and the High Profile Volume Zone with High Volume, after breaking the Bearish Trendline, suggesting that the Bulls have now taken over and want to ride the price higher. MACD has also crossed with RSI coming out of the Oversold region. I belive that MGR has given a good buying opportunity. TP1 - $2.53 (potential 10% gain) TP2 -...
Bullish trend confirmation indications: 1. Downtrend line broken. 2. Impulsive price action at the break of the trendline with High Volume 3. After the impulsive break, price is pulling back. 4. I would be a confident buyer within the Buy Zone which is the Fib Retracement Level Zone of 50-61.8 % and support of the trendline. The ideal Buying zone is between $2.20...
Heres my trade set-up $MGR Mirvac on the ASX based on price action reacting at support and I like the volatility. This is a mid to longer term investment as well as a swing trade. This could be a risky trade with more downside if it cracks support, we will see. Risk management is key. Not financial advice.