Mirvac Group MGR has outperformed the All Ordinaries Index for 4 consecutive weeks (relative down week followed by 4 relative up weeks). This type of relative outperformance has consistently been a precursor to an upside move for MGR.
Since 2000, MGR has recorded 4 consecutive relative up weeks on 28 overlap adjusted occasions (at least 13-weeks between each...
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...
$MGR - MIRVAC GROUP (MGR:ASX) - Consistent performer
Mirvac has been having a pretty good run recently. Now that the elections are over and less uncertainty it will be interesting to see if the run will continue. Buyers and demand heavily outweigh sellers and shares on offer in the trading queue but volume is weak at the moment so I'll hold off on any entry...
Due to oversea market over night the market is expected to open lower today, The ASX 200 is near the high of Res and the Vix is showing bullish movement to the upside as well. Next lets look at the financial sector (XFJ) and the Real estate sector (XRE), both are showing a bull shooting star on the Res that could pull back today. Now to Mivrac its showing a...
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.
MGR.ASX Share prices could be heading up to test 2.35 the last high after breaking out from 2.14 resistance price point in yesterdays trading session. My estimate price target is 2.35
