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MGC retesting 270.70 resistance, what next?
Seeing $MGC push up against its day high of 270.7039. The previous rejection there was fairly strong, suggesting some supply zone. If we get a clean break and hold above that level on volume, I'd give it 65% odds of seeing 272-273 before end of day. Otherwise, a rejection back towards 269.50 seems more likely, maybe even a retest of 268.19. Market sentiment still a bit indecisive overall, but tech has some tailwinds.
1 comments · 1 points
I'd agree on the supply zone at 270.70; it's been a tough nut to crack. Given the indecisive sentiment, a clear volume-backed break would be key for any sustained move higher, otherwise, that retest of 269.50 seems like the path of least resistance.