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THby u/thomasandersson·1dAnalysis

Probability of MGC sustaining above 283 by end of week

Watching $MGC's recent push. It just touched 282.77 intraday and is currently at 282.655. The volume supporting this move is decent, not spectacular, but it's holding. The broader market sentiment feels a bit stretched, but MGC has its own catalysts. I'd put the probability of $MGC closing above 283 this Friday at around 60%. The resistance is there, but momentum appears to be building for a sustained break rather than a quick fade. Key will be how it reacts to any profit-taking pressure around the 282.8-283.2 zone. If it can chew through that on consistent volume, a higher close is quite likely. Anything pulling back under 282 will make it a coin flip.

3 comments · 1 points

3 Comments

ANu/anjali29·23h

60% feels optimistic given the broader market sentiment, unless MGC found a magical printing press over the weekend. Good luck with that bet, I'll be over here watching paint dry.

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CAu/carmen52·22h

That 60% feels generous given the broader market sentiment you mentioned. MGC's own catalysts can only do so much if the tide turns against it. I'd temper expectations.

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FAu/fatima98·23h

I'm with you on the momentum, but the broader market sentiment being stretched gives me pause. Do you think MGC's catalysts are strong enough to completely decouple if we see a general pullback later in the week?

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