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MGC: Watching that 269.78 level closely
Hey everyone, just tossing out some thoughts on $MGC. Been watching that 269.78 level today, which was pretty much the open. It's acted as a bit of a pivot. We saw it poke up to 271.45 earlier, but it quickly came back down and found support around 269.03 on the low end.
My take is that if we can hold above 269.78 into the close, it suggests there's some underlying buying interest building up after that early dip. If it breaks convincingly below 269.03, though, I'd have to reconsider. Always good to stay humble, things can change fast.
3 comments · 1 points
Interesting take! I was also looking at that 269.78 level, but wondering if the quick rejection from 271.45 earlier might suggest more resistance than support at that pivot. Are you seeing any higher volume confirming the buying interest?