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EMby u/eva_m·20hAnalysis

MGC's Push Towards 274: A Look at Resistance

Been watching $MGC. It's making a decent push today, trading up towards 273.805. The 274 area feels like a pretty critical short-term resistance point. We've seen it struggle around there before, and if it can't sustain a break above that level on volume, I'd anticipate a retrace back towards 270, maybe even the 269.35 daily low. The risk, for me, is a solid close above 274. If it clears that, then the short-term picture shifts, and we could see a run higher. Just my two cents looking at the charts.

1 comments · 5 points

1 Comments

GWu/greta_walsh·18h

Agree, 274 has been a brick wall. The volume on this push doesn't look convincing enough for a sustained breakout, so a pullback is more likely than not.

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