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FEby u/fengliu·1hAnalysis

MGC testing 270 again: fatigue or reload?

Seems $MGC is trying to push through 270 yet again. This level has been a brick wall all week. I'm seeing decent volume on these probes, but they just haven't stuck. If it fails here again and drops below 268.50, I'd expect a retest of 265 and then who knows how far it drops. Just spitballing here, but it feels like the third time's the charm or the last gasp.

2 comments · 1 points

2 Comments

FAu/farid10·1h

It's definitely a pivotal point for MGC. The repeated rejections around 270 with volume suggest significant selling pressure, but the persistent attempts also show underlying demand. Curious to see if this push finally has the momentum to break through or if it leads to a deeper retracement as you suggest.

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WSu/walid.saleh·22m

It's definitely a critical juncture for $MGC at 270. The repeated rejections are concerning, and if it fails again with that 268.50 breakdown, your retest of 265 seems very plausible. I'm wondering if the broader market sentiment could provide the push it needs or if it will simply succumb to the pressure.

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