Intraday trading: Potential takeover of MoneyGram
Bloomberg News reported the potential takeover incurred by Western Union of MoneyGram. Price was not disclosed and now MGI faces high volatility a trader could profit from. Looking at the 4h chart, we might see that in 3 hours time MGI (at 17:30h GMT) might plummet until $3 to pullback at $3.80 after 17:30h GMT. Maybe, takeover price for MGI could be greater than current price due to greater average TTM market price. However, Moneygram holds around $800 million debt, so negotiations will be interesting. I suggest Long from $3 up to $4.40.
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