Long-position
MGLN possible longer term breakoutMagellan seems to have broken out of a longer consolidation. The measured move of the channel points to a move of about 15% so I would take profits on a momentum loss at a first target around 72 or a little before.
Descendent channel in GBP/USDWaiting for the price to breakout the channel in an up trend. Till that moment, i don't expect much volatility
Medium Term Target @ $244.73 with Elliott Wave CycleFrom a technical perspective the $230.65 resistance is a critical area for the upward break and any dip under $217.56 support should be watched as a change in momentum... In the medium-term Elliott Wave Cycle and the Fibonacci Retractment suggest that $244.73 can be seen as a Target with a stop loss at $217.56... Any comments or suggestions would be much appreciated...
Ready for $680 rocket.Enough said, we are done with the dump. On the way to $680 , or even the uppermost target of $720 .
Sit tight and watch! Not the time for any shorting... :) Everything's screaming BUY BUY BUY!
Credits: LowPro & LazyBear for the indicators.
